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

World Equity Group Inc. cut its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 55.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,500 shares of the real estate investment trust's stock after selling 170,500 shares during the period. World Equity Group Inc.'s holdings in Rithm Capital were worth $1,586,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its stake in Rithm Capital by 2.1% during the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock worth $499,000 after acquiring an additional 960 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Rithm Capital by 2.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 1,016 shares in the last quarter. Vident Advisory LLC raised its position in Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 1,051 shares during the last quarter. Sowell Financial Services LLC raised its position in Rithm Capital by 3.2% in the 1st quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust's stock valued at $409,000 after buying an additional 1,108 shares during the last quarter. Finally, US Bancorp DE raised its position in Rithm Capital by 3.7% in the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust's stock valued at $352,000 after buying an additional 1,155 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.0%

RITM stock traded down $0.01 during midday trading on Friday, hitting $11.21. The stock had a trading volume of 7,118,603 shares, compared to its average volume of 4,105,369. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 9.34 and a beta of 1.26. The business has a 50-day moving average of $11.07 and a two-hundred day moving average of $11.22.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. Rithm Capital's payout ratio is currently 83.33%.

Wall Street Analyst Weigh In

RITM has been the subject of several research reports. Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research note on Monday, May 19th. BTIG Research reiterated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading restated a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Tuesday, April 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, May 20th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $13.56.

Rithm Capital 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.