Rithm Capital Corp. (NYSE:RITM) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,276 shares of the real estate investment trust’s stock after selling 11,801 shares during the period. Global Retirement Partners LLC’s holdings in Rithm Capital were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in RITM. Angel Oak Capital Advisors LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $3,074,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Rithm Capital by 18.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 382,722 shares of the real estate investment trust’s stock valued at $4,145,000 after purchasing an additional 60,922 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Rithm Capital during the 4th quarter worth $921,000. Allworth Financial LP grew its stake in shares of Rithm Capital by 1,437.5% during the fourth quarter. Allworth Financial LP now owns 133,688 shares of the real estate investment trust’s stock worth $1,505,000 after purchasing an additional 124,993 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Rithm Capital by 7.7% in the fourth quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust’s stock valued at $5,366,000 after buying an additional 35,405 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.8 %

Shares of NYSE:RITM opened at $11.89 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The stock has a market cap of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.10. The firm has a fifty day moving average price of $11.31 and a 200 day moving average price of $11.19.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RITM shares. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler boosted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.07.

About Rithm Capital

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.