Rithm Capital Corp. (NYSE:RITM) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 45.9% during the fourth quarter, HoldingsChannel reports. The firm owned 14,150 shares of the real estate investment trust’s stock after selling 12,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Rithm Capital were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $43,000. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital during the 3rd quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC grew its stake in Rithm Capital by 86.7% during the 4th 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 purchasing an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Rithm Capital by 8,600.0% in 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 purchasing an additional 8,600 shares during the period. Finally, Periscope Capital Inc. purchased a new position in shares of Rithm Capital in the third quarter worth about $114,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 2.1 %

Shares of Rithm Capital stock opened at $11.66 on Friday. The firm has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $11.24. 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 Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The company has a market cap of $6.07 billion, a P/E ratio of 6.98 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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%. 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 business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.58%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is presently 59.88%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RITM shares. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler boosted their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and an average price target of $13.25.

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.