Rithm Capital Corp. (NYSE:RITM) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC lessened its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,276 shares of the real estate investment trust’s stock after selling 11,801 shares during the quarter. Global Retirement Partners LLC’s holdings in Rithm Capital were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Angel Oak Capital Advisors LLC acquired a new stake in shares of Rithm Capital during the fourth quarter valued at $3,074,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Rithm Capital by 18.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 382,722 shares of the real estate investment trust’s stock worth $4,145,000 after buying an additional 60,922 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Rithm Capital in the fourth quarter valued at approximately $921,000. Allworth Financial LP raised its holdings in Rithm Capital by 1,437.5% in the 4th quarter. Allworth Financial LP now owns 133,688 shares of the real estate investment trust’s stock valued at $1,505,000 after acquiring an additional 124,993 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Rithm Capital by 7.7% during the fourth quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust’s stock worth $5,366,000 after buying an additional 35,405 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.89 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $11.19. The firm has a market capitalization of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.10.

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

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid 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 presently 59.88%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RITM. Piper Sandler lifted their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and an average price target of $13.07.

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.