Atria Wealth Solutions Inc. Trims Position in Rithm Capital Corp. (NYSE:RITM)

Atria Wealth Solutions Inc. lowered its position in Rithm Capital Corp. (NYSE:RITM) by 34.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,721 shares of the real estate investment trust’s stock after selling 29,302 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Rithm Capital were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC grew its stake in shares of Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Quarry LP raised its position in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,327 shares during the period. Quent Capital LLC lifted its holdings 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 valued at $63,000 after acquiring an additional 2,019 shares during the last quarter. CWM LLC grew 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 acquiring an additional 1,228 shares during the period. Finally, Rossby Financial LCC acquired a new stake in Rithm Capital during the first quarter worth $79,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented 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 Friday, April 25th. UBS Group restated a “buy” rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. Jones Trading upped their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.00.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $12.32 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 9.48 and a beta of 1.25. The business has a 50-day moving average of $11.72 and a 200 day moving average of $11.44. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.59.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts forecast 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 Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.1%. Rithm Capital’s dividend payout ratio is currently 76.92%.

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.