Rhumbline Advisers Sells 11,788 Shares of Rithm Capital Corp. (NYSE:RITM)

Rhumbline Advisers trimmed its holdings in Rithm Capital Corp. (NYSE:RITM) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 473,964 shares of the real estate investment trust’s stock after selling 11,788 shares during the quarter. Rhumbline Advisers owned about 0.10% of Rithm Capital worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Natixis acquired a new stake in shares of Rithm Capital in the 1st quarter worth about $689,000. Allianz Asset Management GmbH grew its holdings in Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after buying an additional 607,413 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Rithm Capital by 14.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 2,614 shares during the last quarter. Slagle Financial LLC boosted its holdings in Rithm Capital by 99.1% during the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock worth $5,068,000 after acquiring an additional 236,199 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after acquiring an additional 378,931 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RITM shares. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities boosted their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Performance

Shares of RITM opened at $11.77 on Monday. The firm has a market capitalization of $5.69 billion, a PE ratio of 7.85 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50-day simple moving average of $11.39 and a two-hundred day simple moving average of $11.16. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $11.94.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. On average, analysts anticipate that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date was Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

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.