Wealthcare Advisory Partners LLC Acquires 7,249 Shares of Rithm Capital Corp. (NYSE:RITM)

Wealthcare Advisory Partners LLC lifted its holdings in Rithm Capital Corp. (NYSE:RITM) by 68.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,777 shares of the real estate investment trust’s stock after buying an additional 7,249 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Rithm Capital were worth $198,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina raised its holdings in Rithm Capital by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock worth $1,966,000 after purchasing an additional 1,070 shares during the last quarter. Wedmont Private Capital raised its holdings in 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 last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Rithm Capital by 15.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 1,200 shares during the last quarter. Harbour Investments Inc. raised its holdings in Rithm Capital by 1.2% during the 3rd quarter. Harbour Investments Inc. now owns 108,081 shares of the real estate investment trust’s stock worth $1,004,000 after purchasing an additional 1,297 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 3.0 %

NYSE:RITM opened at $10.58 on Tuesday. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $11.60. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $11.16 and a two-hundred day moving average price of $10.91. The company has a market cap of $5.12 billion, a P/E ratio of 7.05 and a beta of 1.82.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.45%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. B. Riley restated a “buy” rating and set a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Piper Sandler boosted their target price on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Finally, JMP Securities restated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and an average 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.