Rithm Capital Corp. (NYSE:RITM) Shares Sold by Telemus Capital LLC

Telemus Capital LLC trimmed its stake in Rithm Capital Corp. (NYSE:RITM) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 527,438 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Telemus Capital LLC’s holdings in Rithm Capital were worth $5,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Trust Company N.A acquired a new stake in shares of Rithm Capital in the fourth quarter worth about $273,000. Signaturefd LLC increased its stake in shares of Rithm Capital by 3.9% in the fourth quarter. Signaturefd LLC now owns 47,694 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 1,804 shares during the period. Institute for Wealth Management LLC. increased its stake in shares of Rithm Capital by 52.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 42,761 shares of the real estate investment trust’s stock worth $457,000 after purchasing an additional 14,627 shares during the period. Cookson Peirce & Co. Inc. bought a new position in shares of Rithm Capital in the fourth quarter worth about $157,000. Finally, Mackenzie Financial Corp increased its stake in shares of Rithm Capital by 48.4% in the fourth quarter. Mackenzie Financial Corp now owns 112,492 shares of the real estate investment trust’s stock worth $1,201,000 after purchasing an additional 36,673 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RITM. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. B. Riley upped their price objective on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Monday, April 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.94 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. Rithm Capital Corp. has a 52 week low of $7.59 and a 52 week high of $11.33. The firm has a fifty day moving average of $10.82 and a two-hundred day moving average of $10.43. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.94 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the prior year, the company earned $0.33 EPS. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 90.91%.

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.