Quarry LP Reduces Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Quarry LP cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 70.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,791 shares of the real estate investment trust’s stock after selling 6,525 shares during the period. Quarry LP’s holdings in Rithm Capital were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RITM. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,525 shares during the period. Truvestments Capital LLC acquired a new position in Rithm Capital in the third quarter valued at about $43,000. Godsey & Gibb Inc. purchased a new position in Rithm Capital during the third quarter worth about $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital during the third quarter valued at about $73,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $74,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RITM shares. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.94.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.14 on Thursday. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The firm has a market capitalization of $5.79 billion, a P/E ratio of 11.25 and a beta of 1.80. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock’s fifty day simple moving average is $10.81 and its 200-day simple moving average is $11.12.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. As a group, equities analysts expect that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.98%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Rithm Capital 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.