Rithm Capital Corp. $RITM Holdings Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Rithm Capital Corp. (NYSE:RITM) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,445 shares of the real estate investment trust’s stock after selling 90,051 shares during the period. State of Alaska Department of Revenue owned 0.08% of Rithm Capital worth $4,218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Mather Group LLC. bought a new stake in Rithm Capital during the third quarter worth approximately $29,000. Altshuler Shaham Ltd raised its position in Rithm Capital by 100.0% during the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,800 shares during the period. Bogart Wealth LLC raised its position in Rithm Capital by 108.5% during the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,144 shares during the period. Sound Income Strategies LLC purchased a new stake in Rithm Capital during the first quarter valued at approximately $41,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $42,000. Institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RITM shares. UBS Group lowered their price objective on Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. BTIG Research cut their target price on Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Piper Sandler decreased their price target on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.05.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the transaction, the director owned 82,259 shares in the company, valued at $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

Rithm Capital Price Performance

Rithm Capital stock opened at $8.64 on Friday. The firm has a 50-day moving average price of $9.55 and a 200-day moving average price of $9.52. The firm has a market capitalization of $4.83 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.55 and a beta of 1.16. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.19. Rithm Capital Corp. has a 12-month low of $8.31 and a 12-month high of $12.15.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. As a group, equities research analysts forecast that Rithm Capital Corp. will post 2.25 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.00 annualized dividend and a yield of 11.6%. Rithm Capital’s dividend payout ratio (DPR) is presently 166.67%.

Rithm Capital Profile

Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.

Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.

The company was formerly known as New Residential Investment Corp.