Rithm Capital Corp. (NYSE:RITM) Holdings Decreased by IHT Wealth Management LLC

IHT Wealth Management LLC reduced its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 65,258 shares of the real estate investment trust’s stock after selling 2,809 shares during the period. IHT Wealth Management LLC’s holdings in Rithm Capital were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RITM. Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 1,525 shares in the last quarter. Truvestments Capital LLC bought a new stake in Rithm Capital in the third quarter worth about $43,000. Godsey & Gibb Inc. bought a new stake in Rithm Capital in the third quarter worth about $51,000. Future Financial Wealth Managment LLC bought a new stake in Rithm Capital in the third quarter worth about $73,000. Finally, Summit Securities Group LLC bought a new stake in Rithm Capital in the second quarter worth about $74,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 1.2 %

Shares of RITM opened at $11.24 on Friday. 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 1-year low of $9.97 and a 1-year high of $12.02. The business’s 50-day moving average price is $10.80 and its 200 day moving average price is $11.12. The stock has a market capitalization of $5.84 billion, a P/E ratio of 11.35 and a beta of 1.80.

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

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.90%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RITM shares. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.94.

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.