Principal Financial Group Inc. Has $350,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Principal Financial Group Inc. lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,878 shares of the real estate investment trust’s stock after selling 5,037 shares during the period. Principal Financial Group Inc.’s holdings in Rithm Capital were worth $350,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RITM. Van ECK Associates Corp lifted its holdings in shares of Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the period. Waterfall Asset Management LLC acquired a new position in shares of Rithm Capital during the second quarter worth $2,209,000. SG Americas Securities LLC acquired a new position in shares of Rithm Capital during the third quarter worth $4,112,000. Squarepoint Ops LLC acquired a new position in shares of Rithm Capital during the second quarter worth $774,000. Finally, Cetera Investment Advisers lifted its holdings in Rithm Capital by 460.3% in the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock valued at $2,964,000 after buying an additional 218,206 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Stock Up 1.8 %

Shares of RITM opened at $10.98 on Monday. Rithm Capital Corp. has a 12-month low of $9.97 and a 12-month high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. The firm has a fifty day moving average price of $10.90 and a 200-day moving average price of $11.13.

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, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued 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 9.11%. Rithm Capital’s dividend payout ratio is presently 101.01%.

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.