Van ECK Associates Corp Sells 190,637 Shares of Rithm Capital Corp. (NYSE:RITM)

Van ECK Associates Corp lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,813,420 shares of the real estate investment trust’s stock after selling 190,637 shares during the quarter. Van ECK Associates Corp’s holdings in Rithm Capital were worth $19,639,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in Rithm Capital in the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital in the third quarter valued at approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital in the third quarter worth $51,000. Finally, Allworth Financial LP lifted its position in shares of Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RITM. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Price Performance

NYSE:RITM opened at $12.03 on Friday. Rithm Capital Corp. has a one year low of $10.36 and a one year high of $12.10. The company has a market cap of $6.25 billion, a P/E ratio of 7.20 and a beta of 1.79. The firm’s fifty day moving average price is $11.23 and its two-hundred day moving average price is $11.16. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Equities analysts expect that Rithm Capital Corp. will post 1.92 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.32%. Rithm Capital’s payout ratio is presently 59.88%.

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.