MAI Capital Management Has $619,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

MAI Capital Management trimmed its holdings in Rithm Capital Corp. (NYSE:RITM) by 34.6% in the third quarter, Holdings Channel reports. The fund owned 54,511 shares of the real estate investment trust’s stock after selling 28,880 shares during the period. MAI Capital Management’s holdings in Rithm Capital were worth $619,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the period. Bessemer Group Inc. bought a new position in Rithm Capital during the 1st quarter worth about $30,000. Abich Financial Wealth Management LLC raised its stake in shares of 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 valued at $45,000 after purchasing an additional 1,461 shares during the period. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital in the third quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Rithm Capital during the third quarter worth about $73,000. 44.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RITM. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Price Performance

NYSE:RITM opened at $10.98 on Friday. The stock has a market capitalization of $5.70 billion, a PE ratio of 11.08 and a beta of 1.80. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The firm has a fifty day simple moving average of $10.92 and a 200 day simple moving average of $11.14. 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 (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm posted $0.58 earnings per share. On average, research analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 101.01%.

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.