Rithm Capital Corp. $RITM Shares Sold by Jackson Thornton Wealth Management LLC

Jackson Thornton Wealth Management LLC cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,479 shares of the real estate investment trust’s stock after selling 3,734 shares during the quarter. Jackson Thornton Wealth Management LLC’s holdings in Rithm Capital were worth $180,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its position in shares of Rithm Capital by 4.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 48,471 shares of the real estate investment trust’s stock valued at $594,000 after purchasing an additional 1,926 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Rithm Capital in the 2nd quarter worth $24,938,000. Mutual Advisors LLC grew its holdings in shares of Rithm Capital by 37.4% in the 2nd quarter. Mutual Advisors LLC now owns 19,953 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 5,435 shares during the last quarter. Melia Wealth LLC grew its holdings in shares of Rithm Capital by 3.3% in the 2nd quarter. Melia Wealth LLC now owns 233,784 shares of the real estate investment trust’s stock worth $2,639,000 after acquiring an additional 7,495 shares during the last quarter. Finally, MGO One Seven LLC grew its holdings in shares of Rithm Capital by 4.3% in the 2nd quarter. MGO One Seven LLC now owns 876,448 shares of the real estate investment trust’s stock worth $9,895,000 after acquiring an additional 35,841 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

RITM opened at $10.83 on Wednesday. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 8.33 and a beta of 1.31. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $11.83 and a 200 day moving average price of $11.49.

Rithm Capital (NYSE:RITM) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.2%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s payout ratio is currently 76.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RITM shares. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. UBS Group lifted their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. Finally, BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.25.

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.