Belpointe Asset Management LLC Cuts Stake in Rithm Capital Corp. (NYSE:RITM)

Belpointe Asset Management LLC decreased its position in Rithm Capital Corp. (NYSE:RITM) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,600 shares of the real estate investment trust’s stock after selling 4,050 shares during the period. Belpointe Asset Management LLC’s holdings in Rithm Capital were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Rithm Capital during the 4th quarter worth $81,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. UBS Group lowered their target price on Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital has an average rating of “Buy” and an average target price of $13.21.

Rithm Capital Stock Down 0.8 %

Shares of NYSE RITM opened at $10.05 on Thursday. The firm has a market cap of $5.33 billion, a P/E ratio of 6.02 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The firm’s 50 day moving average price is $11.41 and its 200 day moving average price is $11.12.

Rithm Capital (NYSE:RITM) last issued 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%. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is currently 59.88%.

Rithm Capital Company 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.