Allworth Financial LP Sells 25,511 Shares of Rithm Capital Corp. $RITM

Allworth Financial LP lowered its position in shares of Rithm Capital Corp. (NYSE:RITM) by 25.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,549 shares of the real estate investment trust’s stock after selling 25,511 shares during the quarter. Allworth Financial LP’s holdings in Rithm Capital were worth $864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its holdings in Rithm Capital by 3.8% in the second quarter. Illinois Municipal Retirement Fund now owns 298,511 shares of the real estate investment trust’s stock valued at $3,370,000 after acquiring an additional 10,795 shares during the period. Campbell & CO Investment Adviser LLC grew its position in shares of Rithm Capital by 6.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 173,201 shares of the real estate investment trust’s stock valued at $1,955,000 after purchasing an additional 9,867 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rithm Capital by 575.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 596,476 shares of the real estate investment trust’s stock worth $6,734,000 after acquiring an additional 508,114 shares in the last quarter. Access Investment Management LLC bought a new position in Rithm Capital during the second quarter valued at $1,434,000. Finally, Corton Capital Inc. bought a new stake in Rithm Capital during the second quarter worth approximately $146,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.3%

Shares of NYSE RITM opened at $11.12 on Friday. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The stock has a market cap of $6.16 billion, a P/E ratio of 7.67 and a beta of 1.30. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The business’s fifty day simple moving average is $11.34 and its 200-day simple moving average is $11.59.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.0%. Rithm Capital’s payout ratio is 68.97%.

Insider Buying and Selling at Rithm Capital

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RITM has been the topic of several research analyst reports. Jones Trading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. UBS Group raised their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rithm Capital in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $14.25.

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.