Commonwealth Equity Services LLC Trims Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Commonwealth Equity Services LLC lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 429,497 shares of the real estate investment trust’s stock after selling 35,541 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rithm Capital were worth $4,651,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RITM. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 7.8% in the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after acquiring an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. grew its position in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares during the last quarter. Azora Capital LP lifted its holdings in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after buying an additional 978,954 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

NYSE:RITM opened at $11.59 on Monday. The firm has a market cap of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83. The stock has a 50 day moving average of $11.64 and a two-hundred day moving average of $11.23. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.63%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent research reports. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. 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 report on Tuesday, December 3rd. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.25.

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.