MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Holdings in Rithm Capital Corp. $RITM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,660,206 shares of the real estate investment trust's stock after selling 89,984 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.31% of Rithm Capital worth $19,009,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Rithm Capital by 8.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock valued at $134,000 after buying an additional 945 shares during the period. Private Advisor Group LLC lifted its stake in Rithm Capital by 2.0% in the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock worth $578,000 after acquiring an additional 974 shares during the last quarter. Fourth Dimension Wealth LLC lifted its stake in Rithm Capital by 50.0% in the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Vident Advisory LLC grew its holdings in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in shares of Rithm Capital by 3.7% in the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RITM shares. Wedbush reaffirmed an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Royal Bank Of Canada increased their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. UBS Group upped their price target on Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Jones Trading increased their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.25.

Rithm Capital Stock Performance

NYSE:RITM traded down $0.13 during mid-day trading on Friday, reaching $12.42. 2,438,777 shares of the stock were exchanged, compared to its average volume of 4,559,212. The stock has a market capitalization of $6.58 billion, a P/E ratio of 9.55 and a beta of 1.30. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The company has a 50 day simple moving average of $12.19 and a 200-day simple moving average of $11.54. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. Analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.25 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.1%. Rithm Capital's payout ratio is currently 76.92%.

About Rithm Capital

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.