Axxcess Wealth Management LLC Sells 13,782 Shares of Rithm Capital Corp. (NYSE:RITM)

Axxcess Wealth Management LLC lowered its holdings in Rithm Capital Corp. (NYSE:RITM) by 45.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,651 shares of the real estate investment trust’s stock after selling 13,782 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Rithm Capital were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Rithm Capital by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 199,333 shares of the real estate investment trust’s stock worth $2,262,000 after acquiring an additional 19,596 shares during the period. Empowered Funds LLC lifted its holdings in shares of Rithm Capital by 8.3% during the 3rd 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. Advisors Asset Management Inc. increased its position in Rithm Capital by 2.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 119,344 shares of the real estate investment trust’s stock worth $1,355,000 after purchasing an additional 2,654 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Rithm Capital during the 3rd quarter worth approximately $266,000. Finally, Charles Schwab Investment Management Inc. increased 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 in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.59 on Friday. The firm has a 50-day moving average of $11.64 and a 200-day moving average of $11.23. The company has a market cap of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20.

Rithm Capital (NYSE:RITM) last announced its earnings results 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 net margin of 17.79% and a return on equity of 18.15%. Equities research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

RITM has been the subject of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.