Wellington Shields Capital Management LLC Sells 12,000 Shares of Rithm Capital Corp. (NYSE:RITM)

Wellington Shields Capital Management LLC lowered its position in Rithm Capital Corp. (NYSE:RITM) by 45.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,150 shares of the real estate investment trust’s stock after selling 12,000 shares during the period. Wellington Shields Capital Management LLC’s holdings in Rithm Capital were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RITM. Truvestments Capital LLC bought a new position in shares of Rithm Capital in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital in the 3rd quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares during the period. FNY Investment Advisers LLC raised its stake in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. purchased a new stake in shares of Rithm Capital in the third quarter valued at approximately $114,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RITM. JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.66 on Friday. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20. The company has a market capitalization of $6.07 billion, a PE ratio of 6.98 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The company has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $11.24.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.58%. Rithm Capital’s payout ratio is 59.88%.

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.