Rithm Capital Corp. (NYSE:RITM) Position Lowered by Truist Financial Corp

Truist Financial Corp decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 98,421 shares of the real estate investment trust’s stock after selling 2,319 shares during the quarter. Truist Financial Corp’s holdings in Rithm Capital were worth $1,066,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. SeaCrest Wealth Management LLC lifted its position in shares of Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after purchasing an additional 951 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 967 shares during the period. Apollon Wealth Management LLC raised its stake in Rithm Capital by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 53,856 shares of the real estate investment trust’s stock worth $583,000 after acquiring an additional 1,211 shares during the period. Empowered Funds LLC raised its stake in Rithm Capital by 8.3% during the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 1,216 shares during the period. Finally, Essex Financial Services Inc. raised its stake in Rithm Capital by 8.1% during the fourth quarter. Essex Financial Services Inc. now owns 17,131 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 1,277 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $12.14 on Friday. The firm’s 50 day moving average is $11.39 and its two-hundred day moving average is $11.21. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $6.32 billion, a P/E ratio of 7.27 and a beta of 1.79. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.18.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Analyst Upgrades and Downgrades

RITM has been the topic of several research reports. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.07.

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.