Avantax Advisory Services Inc. Sells 3,493 Shares of Rithm Capital Corp. (NYSE:RITM)

Avantax Advisory Services Inc. lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,990 shares of the real estate investment trust’s stock after selling 3,493 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Rithm Capital were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after acquiring an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Rithm Capital in the 3rd quarter worth about $1,476,000. Bank of New York Mellon Corp lifted its position in shares of Rithm Capital by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after buying an additional 159,506 shares in the last quarter. Finally, EMC Capital Management boosted its stake in shares of Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 32,930 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler increased their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $11.68 on Wednesday. The firm has a market capitalization of $6.08 billion, a PE ratio of 6.99 and a beta of 1.83. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The business’s 50-day moving average price is $11.66 and its 200-day moving average price is $11.23.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.56%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Rithm Capital Company 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.