Barclays PLC Sells 30,553 Shares of Rithm Capital Corp. (NYSE:RITM)

Barclays PLC cut its stake in Rithm Capital Corp. (NYSE:RITM) by 12.3% in the 3rd quarter, Holdings Channel reports. The firm owned 216,969 shares of the real estate investment trust’s stock after selling 30,553 shares during the period. Barclays PLC’s holdings in Rithm Capital were worth $2,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Rithm Capital by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after buying an additional 158,857 shares during the period. HB Wealth Management LLC raised its position in shares of Rithm Capital by 16.8% in the 2nd quarter. HB Wealth Management LLC now owns 13,722 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 1,978 shares in the last quarter. Burney Co. lifted its stake in shares of Rithm Capital by 133.4% in the 2nd quarter. Burney Co. now owns 114,598 shares of the real estate investment trust’s stock valued at $1,250,000 after purchasing an additional 65,507 shares during the period. Rothschild Investment LLC bought a new stake in shares of Rithm Capital during the second quarter valued at approximately $313,000. Finally, Capital Square LLC grew its stake in Rithm Capital by 2.2% in the second quarter. Capital Square LLC now owns 245,510 shares of the real estate investment trust’s stock worth $2,863,000 after purchasing an additional 5,211 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Up 1.1 %

NYSE:RITM opened at $11.03 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $5.73 billion, a P/E ratio of 11.14 and a beta of 1.80. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The firm has a 50-day simple moving average of $10.86 and a two-hundred day simple moving average of $11.11.

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 for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.58 EPS. Analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.07%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Analyst Ratings Changes

RITM has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.94.

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.