Rithm Capital Corp. (NYSE:RITM) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Rithm Capital Corp. (NYSE:RITM) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,884 shares of the real estate investment trust’s stock after selling 54,097 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $1,180,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cerity Partners LLC grew its holdings in shares of Rithm Capital by 2.1% during the third quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock valued at $822,000 after purchasing an additional 1,508 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Rithm Capital by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust’s stock worth $1,415,000 after buying an additional 2,015 shares during the last quarter. FMR LLC increased its position in Rithm Capital by 0.9% in the third quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock worth $7,088,000 after buying an additional 5,440 shares during the period. BNP Paribas Financial Markets lifted its stake in Rithm Capital by 166.6% in the third quarter. BNP Paribas Financial Markets now owns 415,335 shares of the real estate investment trust’s stock valued at $4,714,000 after buying an additional 259,528 shares during the last quarter. Finally, Freedom Investment Management Inc. acquired a new position in shares of Rithm Capital during the third quarter valued at $230,000. Institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

RITM has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler raised their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Up 0.6 %

Shares of RITM stock opened at $11.46 on Tuesday. Rithm Capital Corp. has a 1 year low of $10.38 and a 1 year high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The business’s fifty day moving average is $11.69 and its 200-day moving average is $11.23. The stock has a market cap of $5.96 billion, a PE ratio of 6.86 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is 59.88%.

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.