Rithm Capital Corp. (NYSE:RITM) Shares Sold by LSV Asset Management

LSV Asset Management decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,289,890 shares of the real estate investment trust’s stock after selling 146,145 shares during the period. LSV Asset Management owned 1.30% of Rithm Capital worth $67,176,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its holdings in Rithm Capital by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock valued at $1,966,000 after acquiring an additional 1,070 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Rithm Capital by 5.9% during the 4th quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 1,087 shares during the period. HighTower Advisors LLC increased its position in Rithm Capital by 0.9% during the 3rd quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 1,139 shares in the last quarter. Simplicity Solutions LLC raised its holdings in Rithm Capital by 8.0% in the third quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 1,214 shares during the period. Finally, Harbour Investments Inc. lifted its position in Rithm Capital by 1.2% during the third quarter. Harbour Investments Inc. now owns 108,081 shares of the real estate investment trust’s stock valued at $1,004,000 after buying an additional 1,297 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RITM. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday. Jonestrading raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Argus upped their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Finally, B. Riley upped their price target on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.05.

Rithm Capital Stock Up 0.6 %

Rithm Capital stock traded up $0.07 during midday trading on Friday, hitting $11.32. The stock had a trading volume of 2,856,578 shares, compared to its average volume of 2,945,595. The business has a fifty day moving average price of $10.95 and a 200 day moving average price of $10.55. Rithm Capital Corp. has a 12 month low of $7.59 and a 12 month high of $11.41. The stock has a market cap of $5.48 billion, a P/E ratio of 7.55 and a beta of 1.80. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. The business had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same period in the previous year, the business earned $0.33 EPS. Research analysts predict that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were issued a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.