Rithm Capital Corp. (NYSE:RITM) Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. lessened its stake in Rithm Capital Corp. (NYSE:RITM) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,363 shares of the real estate investment trust’s stock after selling 1,440 shares during the quarter. Selective Wealth Management Inc.’s holdings in Rithm Capital were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RITM. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Rithm Capital during the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. lifted its position in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,661 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Rithm Capital in the 1st quarter worth $62,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.3 %

RITM stock traded up $0.03 during midday trading on Thursday, hitting $10.65. 1,981,699 shares of the company’s stock were exchanged, compared to its average volume of 3,423,690. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $5.15 billion, a PE ratio of 7.08 and a beta of 1.80. The business has a 50-day simple moving average of $11.39 and a two-hundred day simple moving average of $11.20.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.39%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RITM shares. JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.67.

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.