B. Riley Wealth Advisors Inc. Sells 2,162 Shares of Rithm Capital Corp. (NYSE:RITM)

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

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Rithm Capital in the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital in the 3rd quarter worth approximately $43,000. Godsey & Gibb Inc. purchased a new stake in Rithm Capital during the 3rd quarter worth approximately $51,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Rithm Capital during the 3rd quarter valued at approximately $73,000. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RITM. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.94.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.94 on Monday. The stock has a market cap of $5.69 billion, a PE ratio of 11.05 and a beta of 1.80. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The business has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $11.11. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results 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. 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 earnings per share. On average, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.14%. Rithm Capital’s dividend payout ratio is presently 101.01%.

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.