Access Investment Management LLC Cuts Stake in Rithm Capital Corp. (NYSE:RITM)

Access Investment Management LLC reduced its position in Rithm Capital Corp. (NYSE:RITM) by 7.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 127,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Access Investment Management LLC’s holdings in Rithm Capital were worth $1,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC purchased a new position in Rithm Capital in the third quarter worth $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 8,600 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Rithm Capital by 281.2% during the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 6,414 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $13.07.

Rithm Capital Trading Down 0.8 %

Shares of Rithm Capital stock opened at $11.89 on Friday. The firm has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $11.19. The company has a market cap of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 8.41%. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

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.