Franklin Resources Inc. Cuts Holdings in Rithm Capital Corp. (NYSE:RITM)

Franklin Resources Inc. lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,176,577 shares of the real estate investment trust’s stock after selling 73,824 shares during the period. Franklin Resources Inc.’s holdings in Rithm Capital were worth $12,742,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RITM. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital during the third quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Rithm Capital in the fourth quarter worth $81,000. FNY Investment Advisers LLC increased its position in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Rithm Capital by 1,860.7% during the 4th quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 9,750 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RITM shares. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Stock Performance

NYSE RITM opened at $9.82 on Wednesday. Rithm Capital Corp. has a fifty-two week low of $9.63 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm has a market capitalization of $5.11 billion, a P/E ratio of 5.88 and a beta of 1.36. The stock has a 50-day simple moving average of $11.59 and a two-hundred day simple moving average of $11.17.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.19%. Rithm Capital’s dividend payout ratio is presently 59.88%.

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.