AIA Group Ltd Sells 13,660 Shares of Rithm Capital Corp. (NYSE:RITM)

AIA Group Ltd cut its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,685 shares of the real estate investment trust’s stock after selling 13,660 shares during the period. AIA Group Ltd’s holdings in Rithm Capital were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Bessemer Group Inc. purchased a new position in Rithm Capital during the first quarter worth about $30,000. Abich Financial Wealth Management LLC grew its position 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 worth $45,000 after purchasing an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. purchased a new stake in Rithm Capital in the 3rd quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital in the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

RITM has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday. JMP Securities upped 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Stock Up 1.0 %

RITM stock opened at $10.78 on Friday. Rithm Capital Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $12.02. The stock has a fifty day moving average of $11.08 and a 200-day moving average of $11.16. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.89 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.49 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.85 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.28%. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.