PFG Investments LLC lessened its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 70.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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.
Several other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in Rithm Capital by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 2,978 shares during the last quarter. Rhumbline Advisers increased its holdings in Rithm Capital by 7.7% in the 4th quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust's stock valued at $5,366,000 after purchasing an additional 35,405 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Rithm Capital by 16.9% in the 4th quarter. Handelsbanken Fonder AB now owns 143,994 shares of the real estate investment trust's stock valued at $1,559,000 after purchasing an additional 20,800 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Rithm Capital by 30.7% in the fourth quarter. Sigma Planning Corp now owns 97,586 shares of the real estate investment trust's stock worth $1,057,000 after acquiring an additional 22,925 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust's stock worth $20,755,000 after acquiring an additional 159,506 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.
Rithm Capital Price Performance
Shares of NYSE:RITM traded up $0.01 during midday trading on Friday, hitting $11.41. 6,322,948 shares of the stock were exchanged, compared to its average volume of 4,129,647. The company has a 50 day moving average price of $11.19 and a 200-day moving average price of $11.23. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The stock has a market cap of $6.05 billion, a P/E ratio of 9.50 and a beta of 1.26. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. The firm had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $0.48 EPS. On average, research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.
Rithm Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio is currently 83.33%.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. UBS Group decreased their target price on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Jones Trading reiterated a "buy" rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. BTIG Research restated a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. Finally, Wedbush restated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Monday, May 19th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $13.56.
Get Our Latest Research Report on RITM
Rithm Capital Company Profile
(
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.
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