Sunbelt Securities Inc. Trims Stake in Rithm Capital Corp. (NYSE:RITM)

Sunbelt Securities Inc. lessened its holdings in Rithm Capital Corp. (NYSE:RITM) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,645 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Sunbelt Securities Inc.’s holdings in Rithm Capital were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RITM. Rhumbline Advisers lifted its position in Rithm Capital by 1.2% in the third quarter. Rhumbline Advisers now owns 545,631 shares of the real estate investment trust’s stock valued at $5,069,000 after buying an additional 6,255 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Rithm Capital by 46.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 50,856 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 16,230 shares during the last quarter. FMR LLC boosted its position in shares of Rithm Capital by 6.4% during the 3rd quarter. FMR LLC now owns 656,895 shares of the real estate investment trust’s stock worth $6,103,000 after purchasing an additional 39,729 shares during the period. Invesco Ltd. increased its holdings in Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 480,769 shares during the last quarter. Finally, Northern Trust Corp raised its position in Rithm Capital by 69.3% in the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after purchasing an additional 1,567,489 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RITM. JMP Securities restated a “market outperform” rating and set a $11.00 price target on shares of Rithm Capital in a research report on Thursday, April 18th. Argus raised their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Piper Sandler boosted their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.32.

Rithm Capital Stock Down 0.8 %

Shares of Rithm Capital stock opened at $10.81 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a 52-week low of $8.87 and a 52-week high of $11.60. The company has a market capitalization of $5.22 billion, a P/E ratio of 7.20 and a beta of 1.80. The company has a 50 day moving average of $11.16 and a 200 day moving average of $10.90.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.25%. Rithm Capital’s dividend payout ratio (DPR) 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.