SVB Wealth LLC Sells 1,864 Shares of Rithm Capital Corp. (NYSE:RITM)

SVB Wealth LLC decreased its position in Rithm Capital Corp. (NYSE:RITM) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,015 shares of the real estate investment trust’s stock after selling 1,864 shares during the quarter. SVB Wealth LLC’s holdings in Rithm Capital were worth $171,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RITM. Northern Trust Corp lifted its holdings in Rithm Capital by 69.3% in the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock worth $35,581,000 after purchasing an additional 1,567,489 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Rithm Capital by 360.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after purchasing an additional 749,058 shares during the last quarter. Invesco Ltd. lifted its holdings in Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares during the last quarter. Lewis Asset Management LLC acquired a new stake in Rithm Capital in the 4th quarter worth approximately $2,813,000. Finally, Algert Global LLC acquired a new stake in Rithm Capital in the 3rd quarter worth approximately $2,025,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 1.4 %

Shares of RITM stock opened at $11.09 on Wednesday. The stock has a market cap of $5.37 billion, a P/E ratio of 10.08 and a beta of 1.82. Rithm Capital Corp. has a one year low of $7.59 and a one year high of $11.33. The stock has a fifty day moving average price of $10.83 and a 200 day moving average price of $10.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same period last year, the business earned $0.33 earnings per share. Analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 9.02%. Rithm Capital’s dividend payout ratio is currently 90.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RITM shares. JMP Securities reiterated a “market outperform” rating and set a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. B. Riley upped their price target on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Jonestrading upped their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital has an average rating of “Buy” and a consensus price target of $12.00.

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.