Cascade Investment Group Inc. Has $203,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Cascade Investment Group Inc. cut its holdings in Rithm Capital Corp. (NYSE:RITM) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,885 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Cascade Investment Group Inc.’s holdings in Rithm Capital were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased 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 worth $27,000 after purchasing an additional 1,525 shares during the period. Bessemer Group Inc. acquired a new stake in Rithm Capital in the first quarter worth about $30,000. Abich Financial Wealth Management LLC increased its position in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Rithm Capital in the first quarter worth about $62,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital in the first quarter worth about $71,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on RITM. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities boosted their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and an average target price of $12.67.

Rithm Capital Trading Up 0.8 %

NYSE:RITM opened at $10.86 on Wednesday. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $5.25 billion, a PE ratio of 7.24 and a beta of 1.80. The business’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.19.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. Sell-side analysts expect that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.21%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.