Cwm LLC Cuts Stake in Rithm Capital Corp. (NYSE:RITM)

Cwm LLC lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,279 shares of the real estate investment trust’s stock after selling 1,560 shares during the quarter. Cwm LLC’s holdings in Rithm Capital were worth $94,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RITM. Vanguard Group Inc. boosted its position in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after acquiring an additional 378,931 shares during the last quarter. Long Pond Capital LP purchased a new position in shares of Rithm Capital during the 1st quarter worth approximately $53,025,000. BlueCrest Capital Management Ltd increased its holdings in Rithm Capital by 1.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after purchasing an additional 21,424 shares during the last quarter. Van ECK Associates Corp raised its position in Rithm Capital by 9.4% in the first quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust’s stock valued at $22,581,000 after purchasing an additional 174,523 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Rithm Capital by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after purchasing an additional 158,857 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.9 %

Shares of NYSE RITM opened at $10.48 on Friday. The company has a market cap of $5.06 billion, a P/E ratio of 8.81 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a 12-month low of $9.06 and a 12-month high of $12.02. The stock has a fifty day moving average price of $11.28 and a 200 day moving average price of $11.17.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Rithm Capital’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts anticipate that Rithm Capital Corp. will post 1.81 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.54%. Rithm Capital’s dividend payout ratio (DPR) is 84.03%.

Analyst Upgrades and Downgrades

RITM has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.67.

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.