Rithm Capital Corp. (NYSE:RITM) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,421 shares of the real estate investment trust’s stock after selling 2,319 shares during the quarter. Truist Financial Corp’s holdings in Rithm Capital were worth $1,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RITM. Creative Planning increased its stake in shares of Rithm Capital by 20.6% during the 3rd quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock valued at $875,000 after acquiring an additional 13,152 shares during the last quarter. International Assets Investment Management LLC lifted its position in Rithm Capital by 895.6% during the third quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust’s stock valued at $1,902,000 after buying an additional 150,782 shares in the last quarter. Allworth Financial LP lifted its position in Rithm Capital by 281.2% during the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 6,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Rithm Capital by 63.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,167 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 7,057 shares in the last quarter. Finally, US Bancorp DE lifted its position in Rithm Capital by 18.0% during the third quarter. US Bancorp DE now owns 31,303 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 4,765 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE:RITM opened at $12.14 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The firm has a 50-day moving average of $11.39 and a two-hundred day moving average of $11.21. The stock has a market cap of $6.32 billion, a P/E ratio of 7.27 and a beta of 1.79. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.18.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. On average, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.24%. Rithm Capital’s payout ratio is 59.88%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RITM. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus price target of $13.07.

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.