Thrivent Financial for Lutherans Sells 242,971 Shares of Rithm Capital Corp. (NYSE:RITM)

Thrivent Financial for Lutherans cut its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 59.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,981 shares of the real estate investment trust’s stock after selling 242,971 shares during the period. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $1,851,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RITM. Northwestern Mutual Wealth Management Co. increased its position in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. purchased a new stake in Rithm Capital in the third quarter worth $51,000. Future Financial Wealth Managment LLC purchased a new position in Rithm Capital during the 3rd quarter valued at about $73,000. Finally, Summit Securities Group LLC purchased a new position in shares of Rithm Capital during the second quarter worth about $74,000. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.18 on Friday. 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 firm’s 50-day moving average price is $10.86 and its 200-day moving average price is $11.13. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The company has a market cap of $5.81 billion, a PE ratio of 11.29 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted 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. The business had revenue of $619.51 million during 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 in the previous year, the firm posted $0.58 EPS. As a group, analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed 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 8.94%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Rithm Capital Company 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.