Strs Ohio Sells 45,791 Shares of Rithm Capital Corp. (NYSE:RITM)

Strs Ohio trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,352 shares of the real estate investment trust’s stock after selling 45,791 shares during the period. Strs Ohio’s holdings in Rithm Capital were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RITM. Jump Financial LLC boosted its stake in shares of Rithm Capital by 668.7% during the third quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock valued at $2,002,000 after purchasing an additional 187,460 shares in the last quarter. Lewis Asset Management LLC purchased a new position in shares of Rithm Capital in the 4th quarter valued at $2,813,000. Capula Management Ltd bought a new position in shares of Rithm Capital in the 3rd quarter worth $910,000. Ritholtz Wealth Management purchased a new stake in shares of Rithm Capital during the 4th quarter worth $114,000. Finally, Invesco Ltd. boosted its position in Rithm Capital by 67.0% during the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 480,769 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on RITM shares. Jonestrading boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Argus raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Monday, February 26th. Finally, JMP Securities restated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research note on Thursday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rithm Capital has an average rating of “Buy” and an average target price of $12.00.

Rithm Capital Stock Up 1.6 %

Shares of RITM stock opened at $10.82 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. Rithm Capital Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $11.33. The firm has a market capitalization of $5.24 billion, a PE ratio of 9.84 and a beta of 1.82. The stock’s 50-day simple moving average is $10.82 and its 200-day simple moving average is $10.41.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period last year, the firm posted $0.33 EPS. Equities analysts expect that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.24%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s payout ratio is 90.91%.

Rithm Capital Company 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.