Mercer Global Advisors Inc. ADV Reduces Holdings in Rithm Capital Corp. (NYSE:RITM)

Mercer Global Advisors Inc. ADV reduced its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,927 shares of the real estate investment trust's stock after selling 44,008 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Rithm Capital were worth $1,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after buying an additional 184,802 shares during the period. Geode Capital Management LLC grew its holdings in Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after acquiring an additional 79,142 shares during the last quarter. Norges Bank purchased a new position in shares of Rithm Capital in the fourth quarter valued at about $76,082,000. Wellington Management Group LLP raised its stake in shares of Rithm Capital by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock valued at $38,993,000 after acquiring an additional 32,544 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Rithm Capital by 78.3% during the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock worth $35,793,000 after purchasing an additional 1,451,829 shares during the period. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Up 0.9 %

Shares of Rithm Capital stock opened at $11.28 on Thursday. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 6.75 and a beta of 1.32. The company has a 50-day moving average of $11.01 and a 200 day moving average of $11.10. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

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 analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. The business had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.87%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is 83.33%.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. BTIG Research reissued a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group dropped 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 report on Wednesday, April 16th. Finally, Jones Trading reiterated a "buy" rating and set a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $13.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.