BNP Paribas Financial Markets Lowers Position in Rithm Capital Corp. (NYSE:RITM)

BNP Paribas Financial Markets decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 48.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,260 shares of the real estate investment trust's stock after selling 201,075 shares during the period. BNP Paribas Financial Markets' holdings in Rithm Capital were worth $2,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RITM. 1620 Investment Advisors Inc. raised its holdings in Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock worth $499,000 after purchasing an additional 960 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of Rithm Capital by 2.0% in the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust's stock worth $547,000 after buying an additional 967 shares during the period. Steward Partners Investment Advisory LLC increased its stake 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 acquiring an additional 1,016 shares in the last quarter. US Bancorp DE lifted its position in Rithm Capital by 3.7% during the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust's stock valued at $352,000 after acquiring an additional 1,155 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in Rithm Capital by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 53,856 shares of the real estate investment trust's stock worth $583,000 after acquiring an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM traded up $0.01 during trading hours on Thursday, hitting $11.12. The stock had a trading volume of 621,443 shares, compared to its average volume of 3,997,482. The firm has a market capitalization of $5.89 billion, a PE ratio of 6.64 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. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.20. The stock has a fifty day moving average price of $10.98 and a 200 day moving average price of $11.16.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The business 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. Analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Rithm Capital's dividend payout ratio is currently 83.33%.

Analyst Ratings Changes

RITM has been the topic of a number of recent research reports. Jones Trading restated a "buy" rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday. BTIG Research reissued a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Monday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital currently has an average rating of "Buy" and a consensus price target of $13.56.

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.