Rithm Capital Corp. (NYSE:RITM) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in Rithm Capital Corp. (NYSE:RITM) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 943,705 shares of the real estate investment trust’s stock after selling 8,800 shares during the quarter. Swiss National Bank owned approximately 0.20% of Rithm Capital worth $10,711,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RITM. Northwestern Mutual Wealth Management Co. grew its holdings in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Rithm Capital during the first quarter valued at $30,000. Abich Financial Wealth Management LLC increased its position in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. acquired a new position in Rithm Capital in the 3rd quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Rithm Capital in the 3rd quarter valued at about $73,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.98 on Monday. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The firm’s 50 day moving average is $10.90 and its two-hundred day moving average is $11.13. The company has a market cap of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.58 earnings per share. Analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.11%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 101.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RITM shares. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.78.

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.