Rithm Capital Corp. (NYSE:RITM) Stock Holdings Lowered by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 11.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 250,591 shares of the real estate investment trust’s stock after selling 31,776 shares during the period. Truist Financial Corp owned about 0.05% of Rithm Capital worth $2,676,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in shares of Rithm Capital by 19.5% during the third quarter. Xponance Inc. now owns 20,112 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 3,286 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Rithm Capital by 18.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 423,207 shares of the real estate investment trust’s stock worth $3,932,000 after acquiring an additional 64,794 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Rithm Capital by 13.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,095 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 10,569 shares in the last quarter. Strs Ohio raised its position in Rithm Capital by 40.6% during the third quarter. Strs Ohio now owns 234,143 shares of the real estate investment trust’s stock valued at $2,175,000 after acquiring an additional 67,652 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Rithm Capital by 29.0% in the third quarter. Chicago Partners Investment Group LLC now owns 27,896 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 6,271 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RITM. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Argus increased their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.05.

Rithm Capital Stock Down 0.9 %

Shares of RITM stock opened at $11.21 on Thursday. Rithm Capital Corp. has a one year low of $7.80 and a one year high of $11.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a fifty day moving average price of $10.99 and a 200 day moving average price of $10.59. The stock has a market cap of $5.42 billion, a P/E ratio of 7.47 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The company had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same period last year, the firm earned $0.33 EPS. Analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.92%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s payout ratio is 66.67%.

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.