Xponance Inc. Sells 11,517 Shares of Rithm Capital Corp. (NYSE:RITM)

Xponance Inc. cut its stake in Rithm Capital Corp. (NYSE:RITM) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,727 shares of the real estate investment trust’s stock after selling 11,517 shares during the period. Xponance Inc.’s holdings in Rithm Capital were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Beck Capital Management LLC boosted its holdings in Rithm Capital by 6.4% in the 2nd quarter. Beck Capital Management LLC now owns 218,373 shares of the real estate investment trust’s stock valued at $2,382,000 after purchasing an additional 13,139 shares during the period. Waterfall Asset Management LLC acquired a new position in shares of Rithm Capital in the 2nd quarter valued at $2,209,000. Frank Rimerman Advisors LLC acquired a new position in shares of Rithm Capital in the 2nd quarter valued at $406,000. Summit Trail Advisors LLC raised its stake in shares of Rithm Capital by 23.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 48,239 shares of the real estate investment trust’s stock valued at $526,000 after buying an additional 9,127 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Rithm Capital by 61.2% in the 2nd quarter. Sei Investments Co. now owns 637,446 shares of the real estate investment trust’s stock valued at $6,955,000 after buying an additional 242,062 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 3.7 %

Shares of NYSE RITM opened at $10.93 on Wednesday. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The company has a market cap of $5.28 billion, a PE ratio of 7.29 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average of $11.48 and a two-hundred day moving average of $11.22.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. As a group, equities analysts expect that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.15%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RITM shares. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities increased their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and an average price target of $12.60.

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.