Curi RMB Capital LLC Cuts Position in Rithm Capital Corp. (NYSE:RITM)

Curi RMB Capital LLC decreased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 14.1% during the third quarter, HoldingsChannel reports. The firm owned 119,433 shares of the real estate investment trust’s stock after selling 19,650 shares during the period. Curi RMB Capital LLC’s holdings in Rithm Capital were worth $1,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Rithm Capital in the 1st quarter worth about $30,000. Abich Financial Wealth Management LLC boosted its position in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital during the 3rd quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Rithm Capital in the 3rd quarter worth about $73,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.5 %

Shares of NYSE:RITM opened at $10.73 on Friday. The company has a 50-day moving average price of $10.99 and a 200 day moving average price of $11.15. 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 Corp. has a 12 month low of $9.94 and a 12 month high of $12.02. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 10.84 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.32%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. 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 research report on Friday, July 19th. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 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 Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital 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.