Global Retirement Partners LLC Sells 1,412 Shares of Rithm Capital Corp. (NYSE:RITM)

Global Retirement Partners LLC trimmed its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 53,077 shares of the real estate investment trust’s stock after selling 1,412 shares during the quarter. Global Retirement Partners LLC’s holdings in Rithm Capital were worth $602,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Rithm Capital by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock worth $22,494,000 after purchasing an additional 78,838 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Rithm Capital by 12.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 30,732 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 3,337 shares in the last quarter. RFG Advisory LLC lifted its stake in shares of Rithm Capital by 18.1% in the 1st quarter. RFG Advisory LLC now owns 13,515 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 2,073 shares during the period. International Assets Investment Management LLC boosted its position in shares of Rithm Capital by 13.0% during the first quarter. International Assets Investment Management LLC now owns 16,707 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Rithm Capital during the first quarter valued at approximately $71,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RITM. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities lifted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Stock Up 0.1 %

RITM stock opened at $10.84 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The stock has a market capitalization of $5.24 billion, a P/E ratio of 7.23 and a beta of 1.80. The business has a fifty day moving average price of $11.35 and a 200-day moving average price of $11.19.

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

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.23%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.