World Equity Group Inc. Sells 170,500 Shares of Rithm Capital Corp. (NYSE:RITM)

World Equity Group Inc. cut its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 138,500 shares of the real estate investment trust's stock after selling 170,500 shares during the quarter. World Equity Group Inc.'s holdings in Rithm Capital were worth $1,586,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of Rithm Capital by 13.9% during the 4th quarter. Empowered Funds LLC now owns 18,030 shares of the real estate investment trust's stock valued at $195,000 after acquiring an additional 2,206 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rithm Capital by 15.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 2,978 shares during the last quarter. Rhumbline Advisers boosted its position in shares of 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 period. Handelsbanken Fonder AB boosted its position in shares of 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 period. Finally, Concurrent Investment Advisors LLC increased its stake in Rithm Capital by 28.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 108,684 shares of the real estate investment trust's stock worth $1,177,000 after purchasing an additional 24,039 shares in the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM stock traded up $0.09 during trading on Tuesday, reaching $11.32. The company had a trading volume of 4,165,876 shares, compared to its average volume of 4,105,972. The company has a market capitalization of $6.00 billion, a PE ratio of 9.43 and a beta of 1.26. 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 firm's 50 day simple moving average is $11.09 and its two-hundred day simple moving average is $11.22. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 15.06% and a return on equity of 18.38%. During the same quarter in the previous year, the business earned $0.48 EPS. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.84%. The ex-dividend date is Monday, June 30th. Rithm Capital's dividend payout ratio is currently 83.33%.

Analysts Set New Price Targets

RITM has been the subject of several recent analyst reports. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $12.50 to $14.00 in a report on Monday, April 28th. UBS Group decreased their price objective 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 reissued 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 reaffirmed a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rithm Capital currently has a consensus rating of "Buy" and a consensus target price of $13.56.

Rithm Capital Company Profile

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.