Rithm Capital Corp. $RITM Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in Rithm Capital Corp. (NYSE:RITM) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,393 shares of the real estate investment trust’s stock after selling 9,014 shares during the quarter. Parallel Advisors LLC’s holdings in Rithm Capital were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of Rithm Capital during the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC increased its holdings in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. SVB Wealth LLC acquired a new stake in Rithm Capital in the 1st quarter valued at $57,000. Quent Capital LLC increased its holdings in Rithm Capital by 58.6% in the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,019 shares in the last quarter. Finally, CWM LLC increased its holdings in Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada upped their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, UBS Group upped their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $12.11 on Friday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company’s 50 day moving average is $12.26 and its 200 day moving average is $11.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. The company has a market cap of $6.42 billion, a PE ratio of 9.32 and a beta of 1.30.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.3%. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

Rithm Capital Profile

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.