Rithm Capital Corp. $RITM Shares Sold by Rossby Financial LCC

Rossby Financial LCC trimmed its position in Rithm Capital Corp. (NYSE:RITM) by 30.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,179 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Rossby Financial LCC’s holdings in Rithm Capital were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Rithm Capital in the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Rithm Capital in the 2nd quarter valued at $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Rithm Capital in the 2nd quarter valued at $43,000. SVB Wealth LLC acquired a new stake in Rithm Capital during the 1st quarter worth about $57,000. Finally, GAMMA Investing LLC grew its position in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RITM. UBS Group increased their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.25.

Rithm Capital Trading Up 1.3%

Shares of Rithm Capital stock opened at $10.98 on Thursday. The firm has a market capitalization of $5.82 billion, a PE ratio of 8.44 and a beta of 1.31. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The firm’s 50-day moving average price is $11.66 and its 200 day moving average price is $11.54. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

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

Rithm Capital Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.

Rithm Capital 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.