IFP Advisors Inc Has $104,000 Position in Rithm Capital Corp. (NYSE:RITM)

IFP Advisors Inc cut its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,843 shares of the real estate investment trust’s stock after selling 1,133 shares during the quarter. IFP Advisors Inc’s holdings in Rithm Capital were worth $104,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Sei Investments Co. grew its stake in shares of Rithm Capital by 12.9% in the fourth quarter. Sei Investments Co. now owns 682,516 shares of the real estate investment trust’s stock valued at $7,392,000 after buying an additional 77,768 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after acquiring an additional 184,802 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new position in shares of Rithm Capital in the 4th quarter valued at about $205,000. Norges Bank acquired a new position in shares of Rithm Capital during the 4th quarter worth about $76,082,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Rithm Capital by 20.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 78,904 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 13,315 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RITM has been the subject of a number of research analyst reports. UBS Group reiterated a “buy” rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.50 to $14.00 in a report on Monday, April 28th. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.88.

Rithm Capital Trading Up 1.1%

RITM stock opened at $12.37 on Wednesday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.59. The company has a market capitalization of $6.55 billion, a PE ratio of 9.51 and a beta of 1.25. The company’s 50-day simple moving average is $11.52 and its 200 day simple moving average is $11.37. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35.

Rithm Capital (NYSE:RITM) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 19.07%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date is Monday, June 30th. Rithm Capital’s dividend payout ratio is currently 83.33%.

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.