PFG Investments LLC reduced its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 70.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,338 shares of the real estate investment trust's stock after selling 65,997 shares during the quarter. PFG Investments LLC's holdings in Rithm Capital were worth $324,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,327 shares during the period. Quadrant Capital Group LLC increased its position in Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,211 shares during the period. Quent Capital LLC lifted its holdings in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after buying an additional 2,019 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Rithm Capital during the fourth quarter worth approximately $81,000. Finally, Versant Capital Management Inc bought a new stake in shares of Rithm Capital in the first quarter valued at approximately $98,000. Institutional investors own 44.92% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Jones Trading reiterated a "buy" rating and set a $12.50 target price on shares of Rithm Capital in a research note on Tuesday, April 29th. BTIG Research reissued a "buy" rating and set a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. Wedbush restated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research note on Monday, May 19th. UBS Group reduced their price objective on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $13.56.
Check Out Our Latest Stock Analysis on RITM
Rithm Capital Price Performance
Shares of RITM traded down $0.07 during mid-day trading on Wednesday, reaching $11.25. The company had a trading volume of 3,825,623 shares, compared to its average volume of 4,111,702. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $5.96 billion, a P/E ratio of 9.38 and a beta of 1.26. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The company's 50-day moving average is $11.12 and its 200-day moving average is $11.22.
Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.
Rithm Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date is Monday, June 30th. Rithm Capital's dividend payout ratio is currently 83.33%.
Rithm Capital Profile
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Free Report)
Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.
Further Reading
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