Rithm Capital Corp. (NYSE:RITM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 321,800 shares of the real estate investment trust’s stock after selling 5,046 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Rithm Capital worth $3,652,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Long Pond Capital LP purchased a new stake in shares of Rithm Capital during the 1st quarter worth approximately $53,025,000. Seven Grand Managers LLC purchased a new position in shares of Rithm Capital during the third quarter worth about $11,918,000. Vanguard Group Inc. increased its position in shares of Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rithm Capital in the 3rd quarter valued at about $4,112,000. Finally, Sei Investments Co. grew its stake in Rithm Capital by 725.7% during the 1st quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after buying an additional 347,499 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One equities 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, Rithm Capital has an average rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.73 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.49 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12-month low of $9.68 and a 12-month high of $12.02. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 10.83 and a beta of 1.80. The stock has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $11.16.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter last year, the company earned $0.58 earnings per share. On average, equities analysts forecast that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. Rithm Capital’s payout ratio is 101.01%.

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.