Avantax Advisory Services Inc. Has $293,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Avantax Advisory Services Inc. lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,620 shares of the real estate investment trust’s stock after selling 1,370 shares during the period. Avantax Advisory Services Inc.’s holdings in Rithm Capital were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RITM. Burney Co. lifted its position in shares of Rithm Capital by 1.2% in the first quarter. Burney Co. now owns 120,818 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 1,398 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Rithm Capital by 41.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 74,765 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 21,910 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Rithm Capital by 13.7% in the 1st quarter. Allianz Asset Management GmbH now owns 2,654,621 shares of the real estate investment trust’s stock valued at $30,395,000 after buying an additional 320,357 shares during the last quarter. Private Advisor Group LLC lifted its position in Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after buying an additional 974 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its stake in shares of Rithm Capital by 6.8% during the 1st quarter. Woodward Diversified Capital LLC now owns 20,338 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 1,287 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.6%

RITM opened at $12.26 on Friday. The stock’s fifty day simple moving average is $11.67 and its 200 day simple moving average is $11.42. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.59. The stock has a market cap of $6.50 billion, a PE ratio of 9.43 and a beta of 1.25. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Monday, June 30th. Rithm Capital’s payout ratio is currently 76.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RITM shares. Royal Bank Of Canada lifted their target price on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. UBS Group reiterated a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Jones Trading increased their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.00.

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.