Rithm Capital Corp. (NYSE:RITM) Position Lessened by Amalgamated Bank

Amalgamated Bank lowered its position in Rithm Capital Corp. (NYSE:RITM) by 70.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,562 shares of the real estate investment trust’s stock after selling 59,656 shares during the quarter. Amalgamated Bank’s holdings in Rithm Capital were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RITM. Empowered Funds LLC bought a new stake in shares of Rithm Capital in the 1st quarter valued at approximately $136,000. Sei Investments Co. increased its stake in shares of 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 purchasing an additional 347,499 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of 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 valued at $293,000 after purchasing an additional 17,345 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake 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 valued at $264,000 after purchasing an additional 2,214 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Rithm Capital by 0.7% in the first 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 in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on RITM. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.72 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $10.99 and a 200 day moving average price of $11.15. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 10.83 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.

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, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million for the quarter, compared to the consensus estimate 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 last year, the company posted $0.58 earnings per share. Research analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.33%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) 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.