Barclays PLC Sells 30,553 Shares of Rithm Capital Corp. (NYSE:RITM)

Barclays PLC decreased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,969 shares of the real estate investment trust’s stock after selling 30,553 shares during the quarter. Barclays PLC’s holdings in Rithm Capital were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Rithm Capital by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock valued at $19,128,000 after buying an additional 158,857 shares during the period. HB Wealth Management LLC increased its holdings in Rithm Capital by 16.8% during the 2nd quarter. HB Wealth Management LLC now owns 13,722 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 1,978 shares during the period. Burney Co. lifted its stake in Rithm Capital by 133.4% in the 2nd quarter. Burney Co. now owns 114,598 shares of the real estate investment trust’s stock worth $1,250,000 after purchasing an additional 65,507 shares in the last quarter. Rothschild Investment LLC bought a new position in Rithm Capital in the 2nd quarter valued at $313,000. Finally, Capital Square LLC grew its position in shares of Rithm Capital by 2.2% during the 2nd quarter. Capital Square LLC now owns 245,510 shares of the real estate investment trust’s stock valued at $2,863,000 after purchasing an additional 5,211 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Rithm Capital Stock Performance

NYSE:RITM opened at $11.03 on Thursday. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50 day moving average of $10.86 and a 200 day moving average of $11.11. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 11.14 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (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 analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.07%. Rithm Capital’s dividend payout ratio is currently 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.