SeaCrest Wealth Management LLC Boosts Position in Rithm Capital Corp. (NYSE:RITM)

SeaCrest Wealth Management LLC boosted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,567 shares of the real estate investment trust’s stock after acquiring an additional 1,547 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RITM. FMR LLC increased its position in Rithm Capital by 6.4% during the third quarter. FMR LLC now owns 656,895 shares of the real estate investment trust’s stock valued at $6,103,000 after acquiring an additional 39,729 shares during the last quarter. Invesco Ltd. grew its holdings in Rithm Capital by 67.0% during the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 480,769 shares during the period. Northern Trust Corp grew its holdings in Rithm Capital by 69.3% during the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after purchasing an additional 1,567,489 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Rithm Capital by 18.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 150,902 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 23,491 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Rithm Capital by 0.5% during 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 purchasing an additional 1,070 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE:RITM opened at $10.73 on Wednesday. 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 company has a market capitalization of $5.19 billion, a P/E ratio of 7.15 and a beta of 1.82. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $11.60. The business’s 50-day moving average is $11.15 and its 200 day moving average is $10.91.

Rithm Capital Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.32%. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

Several research firms have issued reports on RITM. B. Riley reissued a “buy” rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, May 9th. Argus boosted their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and an average target price of $12.32.

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.