SeaCrest Wealth Management LLC Purchases 951 Shares of Rithm Capital Corp. (NYSE:RITM)

SeaCrest Wealth Management LLC lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 94,566 shares of the real estate investment trust’s stock after acquiring an additional 951 shares during the period. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $1,024,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Rithm Capital by 7.8% in the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after acquiring an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rithm Capital by 7.3% in the third 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 acquiring an additional 366,600 shares during the period. JPMorgan Chase & Co. raised its position in Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the period. Azora Capital LP raised its position in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP raised its position in Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after acquiring an additional 978,954 shares during the period. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RITM. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.94.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.17 on Thursday. The company has a 50 day moving average of $10.96 and a 200 day moving average of $11.10. The stock has a market cap of $5.81 billion, a P/E ratio of 11.28 and a beta of 1.79. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the company earned $0.58 earnings per share. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.95%. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.