Private Advisor Group LLC Reduces Holdings in Rithm Capital Corp. (NYSE:RITM)

Private Advisor Group LLC reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,439 shares of the real estate investment trust’s stock after selling 3,803 shares during the quarter. Private Advisor Group LLC’s holdings in Rithm Capital were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. acquired a new position in Rithm Capital during the 1st quarter valued at approximately $30,000. Raleigh Capital Management Inc. increased its position in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the period. Abich Financial Wealth Management LLC raised its stake in Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,461 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Rithm Capital during the 1st quarter worth about $62,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital during the 1st quarter valued at about $71,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RITM shares. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, JMP Securities increased their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital has an average rating of “Moderate Buy” and a consensus target price of $12.60.

Rithm Capital Price Performance

NYSE:RITM opened at $11.89 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50 day moving average price of $11.44 and a 200-day moving average price of $11.17. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $11.97. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 7.92 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Equities research analysts forecast that Rithm Capital Corp. will post 1.82 EPS for the current year.

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.