Janney Montgomery Scott LLC Reduces Holdings in Rithm Capital Corp. (NYSE:RITM)

Janney Montgomery Scott LLC decreased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 45.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,837 shares of the real estate investment trust’s stock after selling 85,980 shares during the period. Janney Montgomery Scott LLC’s holdings in Rithm Capital were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RITM. Empowered Funds LLC purchased a new stake in Rithm Capital during the 1st quarter worth $136,000. Sei Investments Co. increased its stake in Rithm Capital by 725.7% during the 1st quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after buying an additional 347,499 shares during the period. Russell Investments Group Ltd. increased its stake in Rithm Capital by 196.3% during the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 17,345 shares during the period. Avantax Advisory Services Inc. increased its position in shares of Rithm Capital by 10.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,682 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 2,214 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Rithm Capital by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 445,905 shares of the real estate investment trust’s stock worth $4,976,000 after purchasing an additional 2,937 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.5 %

Shares of NYSE:RITM opened at $10.73 on Friday. The company has a 50 day moving average of $10.99 and a 200-day moving average of $11.15. The firm has a market cap of $5.58 billion, a P/E ratio of 10.84 and a beta of 1.80. Rithm Capital Corp. has a twelve month low of $9.94 and a twelve 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.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $0.58 EPS. As a group, analysts anticipate that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities lifted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

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.