Great Lakes Advisors LLC Sells 54,078 Shares of Rithm Capital Corp. (NYSE:RITM)

Great Lakes Advisors LLC decreased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,085,998 shares of the real estate investment trust’s stock after selling 54,078 shares during the quarter. Great Lakes Advisors LLC owned about 0.22% of Rithm Capital worth $11,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Rithm Capital by 13.5% during the fourth quarter. Victory Capital Management Inc. now owns 167,086 shares of the real estate investment trust’s stock worth $1,784,000 after buying an additional 19,909 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Rithm Capital by 75.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 49,824 shares of the real estate investment trust’s stock worth $532,000 after acquiring an additional 21,396 shares during the last quarter. Amalgamated Bank lifted its position in Rithm Capital by 41.4% in the 4th quarter. Amalgamated Bank now owns 141,963 shares of the real estate investment trust’s stock valued at $1,516,000 after acquiring an additional 41,585 shares in the last quarter. National Bank of Canada FI boosted its stake in Rithm Capital by 156.5% during the 4th quarter. National Bank of Canada FI now owns 10,163 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 6,201 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Rithm Capital during the 4th quarter worth approximately $112,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RITM. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities lifted their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler upped their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.60 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The business’s 50 day simple moving average is $11.30 and its 200 day simple moving average is $11.12. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $11.94. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 7.73 and a beta of 1.80.

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

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.62%. The ex-dividend date was Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 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.