International Assets Investment Management LLC Reduces Position in Rithm Capital Corp. (NYSE:RITM)

International Assets Investment Management LLC decreased its holdings in Rithm Capital Corp. (NYSE:RITM) by 92.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,051 shares of the real estate investment trust’s stock after selling 154,566 shares during the period. International Assets Investment Management LLC’s holdings in Rithm Capital were worth $142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after buying an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the period. Van ECK Associates Corp grew its position in shares of Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after purchasing an additional 343,678 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Rithm Capital during the 3rd quarter valued at $1,476,000. Finally, Waterfall Asset Management LLC purchased a new stake in Rithm Capital during the 2nd quarter worth about $2,209,000. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Trading Up 2.5 %

Shares of Rithm Capital stock opened at $10.98 on Wednesday. The company has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $11.10. The firm has a market cap of $5.71 billion, a PE ratio of 11.09 and a beta of 1.79. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced its earnings results 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 company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the previous year, the business earned $0.58 earnings per share. Analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s payout ratio is currently 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.