Rithm Capital Corp. $RITM Shares Sold by Wedmont Private Capital

Wedmont Private Capital reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,214 shares of the real estate investment trust’s stock after selling 1,259 shares during the period. Wedmont Private Capital’s holdings in Rithm Capital were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RITM. SouthState Corp acquired a new position in shares of Rithm Capital during the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC boosted its position in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares during the period. SVB Wealth LLC acquired a new position in shares of Rithm Capital during the first quarter worth approximately $57,000. Quent Capital LLC lifted its position in Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 2,019 shares during the period. Finally, CWM LLC lifted its position in Rithm Capital by 25.5% in the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,228 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 1.5%

NYSE RITM opened at $12.11 on Monday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a 50-day simple moving average of $12.26 and a 200 day simple moving average of $11.55. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The stock 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 released its earnings results 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. On average, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be issued a $0.25 dividend. 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 currently 76.92%.

Analysts Set New Price Targets

A number of research firms have weighed in on RITM. BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Royal Bank Of Canada upped their price target on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. Finally, Jones Trading boosted their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.25.

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.