International Assets Investment Management LLC Cuts Stake in Rithm Capital Corp. (NYSE:RITM)

International Assets Investment Management LLC lowered its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 92.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,051 shares of the real estate investment trust’s stock after selling 154,566 shares during the quarter. International Assets Investment Management LLC’s holdings in Rithm Capital were worth $142,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RITM. JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the period. Azora Capital LP boosted its position in Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares during the period. Soros Fund Management LLC bought a new stake in Rithm Capital in the 3rd quarter worth $23,835,000. Seven Grand Managers LLC purchased a new position in shares of Rithm Capital in the third quarter valued at about $11,918,000. Finally, Maven Securities LTD purchased a new position in shares of Rithm Capital in the third quarter valued at about $11,350,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 2.5 %

Shares of NYSE:RITM opened at $10.98 on Wednesday. The company has a 50-day moving average price of $10.95 and a 200 day moving average price of $11.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 11.09 and a beta of 1.79.

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, 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 firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.58 EPS. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid 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 9.11%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RITM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital has an average rating of “Buy” and a consensus price target of $12.94.

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.