Janney Montgomery Scott LLC Sells 4,888 Shares of Rithm Capital Corp. (NYSE:RITM)

Janney Montgomery Scott LLC reduced its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,949 shares of the real estate investment trust’s stock after selling 4,888 shares during the period. Janney Montgomery Scott LLC’s holdings in Rithm Capital were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Truvestments Capital LLC acquired a new position in Rithm Capital in the third quarter valued at $43,000. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares during the period. Finally, Godsey & Gibb Inc. bought a new position in shares of Rithm Capital in the 3rd quarter worth about $51,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RITM. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Up 0.2 %

RITM stock opened at $11.49 on Thursday. The firm has a market capitalization of $5.97 billion, a PE ratio of 11.60 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The stock’s 50 day moving average is $11.13 and its 200-day moving average is $11.14.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.71%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is 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.