Consolidated Portfolio Review Corp Cuts Position in Rithm Capital Corp. (NYSE:RITM)

Consolidated Portfolio Review Corp lowered its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 88,156 shares of the real estate investment trust’s stock after selling 4,340 shares during the period. Consolidated Portfolio Review Corp’s holdings in Rithm Capital were worth $1,001,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Long Pond Capital LP purchased a new stake in shares of Rithm Capital during the first quarter worth about $53,025,000. Seven Grand Managers LLC acquired a new position in shares of Rithm Capital during the third quarter valued at approximately $11,918,000. Vanguard Group Inc. lifted its position in shares of Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after acquiring an additional 378,931 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rithm Capital in the third quarter worth approximately $4,112,000. Finally, Sei Investments Co. increased its position in shares of Rithm Capital by 725.7% during the first quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after purchasing an additional 347,499 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rithm Capital Trading Down 0.9 %

RITM stock traded down $0.09 during midday trading on Friday, hitting $10.48. 3,654,747 shares of the company’s stock were exchanged, compared to its average volume of 3,462,069. Rithm Capital Corp. has a 1-year low of $9.06 and a 1-year high of $12.02. The business has a 50-day simple moving average of $11.28 and a two-hundred day simple moving average of $11.17. The stock has a market capitalization of $5.06 billion, a PE ratio of 8.80 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81.

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. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.81 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.54%. Rithm Capital’s payout ratio is presently 84.03%.

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.