Private Advisor Group LLC Reduces Holdings in Rithm Capital Corp. (NYSE:RITM)

Private Advisor Group LLC cut its position in Rithm Capital Corp. (NYSE:RITM) by 21.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,093 shares of the real estate investment trust’s stock after selling 13,346 shares during the quarter. Private Advisor Group LLC’s holdings in Rithm Capital were worth $557,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Rithm Capital by 154.4% in the second 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. purchased a new stake in Rithm Capital in the 1st quarter valued at $30,000. Abich Financial Wealth Management LLC raised its position in Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. acquired a new stake in Rithm Capital during the 3rd quarter worth $51,000. Finally, Fidelis Capital Partners LLC purchased a new position in Rithm Capital during the 1st quarter worth $62,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of RITM opened at $10.48 on Monday. The firm has a market capitalization of $5.06 billion, a PE ratio of 10.59 and a beta of 1.80. The stock’s 50 day moving average is $11.20 and its two-hundred day moving average is $11.18. Rithm Capital Corp. has a twelve month low of $9.61 and a twelve month high of $12.02. 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 (NYSE:RITM) last posted its quarterly 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. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.91% and a net margin of 14.99%. During the same period in the previous year, the business earned $0.58 earnings per share. Research analysts anticipate that Rithm Capital Corp. will post 1.85 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.54%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RITM shares. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities lifted their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.