Rithm Capital Corp. (NYSE:RITM) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 35.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 29,764 shares of the real estate investment trust’s stock after selling 16,338 shares during the period. Townsquare Capital LLC’s holdings in Rithm Capital were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. Charles Schwab Investment Management Inc. raised its holdings in shares of Rithm Capital by 7.3% during 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 during the period. Van ECK Associates Corp raised its holdings in shares of Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after acquiring an additional 343,678 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rithm Capital by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after acquiring an additional 158,857 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Rithm Capital by 15.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,319,014 shares of the real estate investment trust’s stock worth $14,390,000 after acquiring an additional 176,711 shares during the period. Finally, Seven Grand Managers LLC purchased a new position in shares of Rithm Capital during the 3rd quarter worth $11,918,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RITM. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.89.

Rithm Capital Stock Performance

NYSE RITM opened at $11.11 on Friday. The company has a market cap of $5.77 billion, a P/E ratio of 11.22 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a 50-day moving average of $10.80 and a two-hundred day moving average of $11.12. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the company posted $0.58 EPS. As a group, analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.