1776 Wealth LLC Reduces Stake in Rithm Capital Corp. (NYSE:RITM)

1776 Wealth LLC reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,409 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. 1776 Wealth LLC’s holdings in Rithm Capital were worth $546,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RITM. Truvestments Capital LLC purchased a new stake in Rithm Capital in the 3rd quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital in the 3rd quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. purchased a new stake in Rithm Capital in the 3rd quarter valued at $114,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

RITM opened at $11.43 on Thursday. The stock’s 50-day moving average price is $11.52 and its 200 day moving average price is $11.23. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 6.84 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.75%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RITM shares. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set 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, four have issued a buy rating and one has given a strong buy rating to the company. According to 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.