B. Riley Wealth Advisors Inc. Has $215,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 28.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,698 shares of the real estate investment trust’s stock after selling 7,697 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Rithm Capital were worth $215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Natixis bought a new position in shares of Rithm Capital in the 1st quarter valued at about $689,000. Waterfall Asset Management LLC bought a new position in Rithm Capital in the second quarter valued at approximately $2,209,000. Slagle Financial LLC increased its position in shares of Rithm Capital by 99.1% during the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock worth $5,068,000 after purchasing an additional 236,199 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. Finally, Melia Wealth LLC acquired a new stake in shares of Rithm Capital in the 1st quarter valued at approximately $2,370,000. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities raised their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.67.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.62 on Thursday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 7.08 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $12.02. The company has a 50-day simple moving average of $11.39 and a 200 day simple moving average of $11.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.42%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s payout ratio is 66.67%.

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.