Allspring Global Investments Holdings LLC Sells 30,635 Shares of Rithm Capital Corp. (NYSE:RITM)

Allspring Global Investments Holdings LLC decreased its position in Rithm Capital Corp. (NYSE:RITM) by 62.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,705 shares of the real estate investment trust’s stock after selling 30,635 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rithm Capital were worth $212,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Natixis bought a new position in shares of Rithm Capital during the first quarter valued at $689,000. Waterfall Asset Management LLC bought a new stake in Rithm Capital during the 2nd quarter valued at about $2,209,000. SG Americas Securities LLC purchased a new position in Rithm Capital in the third quarter worth about $4,112,000. Vanguard Group Inc. lifted its stake in shares of 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 worth $511,305,000 after buying an additional 378,931 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Rithm Capital during the second quarter valued at approximately $774,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 1.0 %

Rithm Capital stock opened at $10.48 on Monday. Rithm Capital Corp. has a one year low of $9.61 and a one year high of $12.02. The stock has a fifty day moving average of $11.20 and a 200 day moving average of $11.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $5.06 billion, a PE ratio of 10.59 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, sell-side analysts predict that Rithm Capital Corp. will post 1.85 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.54%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 101.01%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RITM. 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. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities lifted their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.67.

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.