Cascade Investment Group Inc. Has $183,000 Position in Rithm Capital Corp. (NYSE:RITM)

Cascade Investment Group Inc. cut its holdings in Rithm Capital Corp. (NYSE:RITM) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,885 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Cascade Investment Group Inc.’s holdings in Rithm Capital were worth $183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RITM. SeaCrest Wealth Management LLC lifted its stake in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after buying an additional 951 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,183 shares during the period. Empowered Funds LLC lifted its position in Rithm Capital by 8.3% in the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC boosted its stake in Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 1,286 shares during the period. Finally, HB Wealth Management LLC increased its holdings in Rithm Capital by 10.4% during the 4th quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,411 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE RITM opened at $11.34 on Monday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 11.45 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average price is $10.98 and its two-hundred day moving average price is $11.11. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.58 EPS. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.95 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.82%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.94.

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.