Rithm Capital Corp. (NYSE:RITM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 21.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 49,093 shares of the real estate investment trust’s stock after selling 13,346 shares during the period. Private Advisor Group LLC’s holdings in Rithm Capital were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Calton & Associates Inc. purchased a new position in shares of Rithm Capital during the third quarter worth $763,000. Godsey & Gibb Inc. acquired a new position in Rithm Capital during the 3rd quarter worth about $51,000. Seven Grand Managers LLC purchased a new position in Rithm Capital during the 3rd quarter valued at about $11,918,000. SeaCrest Wealth Management LLC grew its position in Rithm Capital by 10.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 93,615 shares of the real estate investment trust’s stock valued at $1,063,000 after acquiring an additional 9,009 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock valued at $875,000 after purchasing an additional 13,152 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.48 on Monday. The company has a market cap of $5.06 billion, a P/E ratio of 10.59 and a beta of 1.80. The firm has a fifty day moving average price of $11.20 and a 200 day moving average price of $11.18. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a 12 month low of $9.61 and a 12 month high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a return on equity of 17.91% and a net margin of 14.99%. During the same period in the prior year, the firm posted $0.58 EPS. Sell-side analysts predict that Rithm Capital Corp. will post 1.85 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.54%. Rithm Capital’s payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities increased their price objective on 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 reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

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.