Rithm Capital Corp. (NYSE:RITM) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Rithm Capital Corp. (NYSE:RITM) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,436,921 shares of the real estate investment trust’s stock after selling 325,402 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Rithm Capital worth $485,266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RITM. Parkside Financial Bank & Trust boosted its stake in shares of Rithm Capital by 605.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,136 shares during the last quarter. American National Bank purchased a new position in Rithm Capital during the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. lifted its position in Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares in the last quarter. GAMMA Investing LLC purchased a new position in Rithm Capital during the fourth quarter worth approximately $34,000. Finally, Altshuler Shaham Ltd purchased a new position in Rithm Capital during the fourth quarter worth approximately $43,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 1.4 %

Shares of NYSE RITM opened at $10.94 on Wednesday. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $11.60. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $11.15 and a 200-day simple moving average of $10.91. The stock has a market capitalization of $5.29 billion, a PE ratio of 7.29 and a beta of 1.80.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.14%. Rithm Capital’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a research report on Thursday, April 18th. B. Riley restated a “buy” rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Finally, Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus price target of $12.32.

Rithm Capital Company 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.