Cetera Investment Advisers Trims Position in Rithm Capital Corp. (NYSE:RITM)

Cetera Investment Advisers lowered its position in Rithm Capital Corp. (NYSE:RITM) by 0.5% in the second quarter, HoldingsChannel reports. The firm owned 264,237 shares of the real estate investment trust’s stock after selling 1,374 shares during the period. Cetera Investment Advisers’ holdings in Rithm Capital were worth $2,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Long Pond Capital LP purchased a new stake in Rithm Capital in the first quarter valued at $53,025,000. Vanguard Group Inc. lifted its position in Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after buying an additional 378,931 shares during the last quarter. Sei Investments Co. boosted its stake in Rithm Capital by 725.7% during the first quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after buying an additional 347,499 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Rithm Capital by 261.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,217 shares of the real estate investment trust’s stock valued at $4,022,000 after acquiring an additional 260,454 shares during the last quarter. Finally, Slagle Financial LLC raised its stake in shares of Rithm Capital by 99.1% in the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after acquiring an additional 236,199 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RITM has been the subject of several research reports. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, JMP Securities raised their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.67.

Rithm Capital Trading Down 0.1 %

NYSE:RITM opened at $10.64 on Friday. The stock has a fifty day moving average price of $11.36 and a 200 day moving average price of $11.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $12.02. The firm has a market cap of $5.14 billion, a PE ratio of 7.09 and a beta of 1.80.

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

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 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.