LMR Partners LLP Decreases Position in Rithm Capital Corp. (NYSE:RITM)

LMR Partners LLP cut its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,404 shares of the real estate investment trust's stock after selling 427,596 shares during the quarter. LMR Partners LLP's holdings in Rithm Capital were worth $2,409,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of Rithm Capital by 1.2% during the fourth quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust's stock valued at $2,379,000 after buying an additional 2,701 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Rithm Capital by 13.7% in the 4th quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust's stock worth $2,509,000 after buying an additional 27,924 shares during the period. Bank of New York Mellon Corp increased its holdings in Rithm Capital by 9.1% in the 4th 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 buying an additional 159,506 shares during the period. EMC Capital Management increased its holdings in Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust's stock worth $383,000 after buying an additional 32,930 shares during the period. Finally, Meridian Financial Partners LLC acquired a new position in Rithm Capital in the 4th quarter worth approximately $898,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BTIG Research reiterated a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. UBS Group dropped their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Jones Trading reissued a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Tuesday, April 29th. Wedbush restated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday, March 28th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $12.50 to $14.00 in a report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $13.56.

Rithm Capital Trading Up 0.2%

Shares of NYSE:RITM traded up $0.03 during midday trading on Friday, reaching $11.66. 4,346,769 shares of the company's stock were exchanged, compared to its average volume of 3,995,210. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 6.98 and a beta of 1.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The firm's 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $11.15. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week 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, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.48 EPS. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital's dividend payout ratio is presently 83.33%.

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.