Rithm Capital Corp. (NYSE:RITM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 11.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,536 shares of the real estate investment trust’s stock after selling 2,162 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Rithm Capital were worth $196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in 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. Truvestments Capital LLC purchased a new stake in shares of Rithm Capital during the third quarter worth about $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital during the 3rd quarter worth about $43,000. Godsey & Gibb Inc. purchased a new position in Rithm Capital in the 3rd quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital in the 3rd quarter worth about $73,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RITM. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.94.

Rithm Capital Stock Performance

NYSE RITM opened at $10.94 on Monday. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The firm has a market capitalization of $5.69 billion, a P/E ratio of 11.05 and a beta of 1.80. The stock’s fifty day moving average is $10.85 and its two-hundred day moving average is $11.11. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced 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 net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.14%. 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.