Franklin Resources Inc. Sells 73,824 Shares of Rithm Capital Corp. (NYSE:RITM)

Franklin Resources Inc. decreased its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,176,577 shares of the real estate investment trust's stock after selling 73,824 shares during the period. Franklin Resources Inc. owned approximately 0.23% of Rithm Capital worth $12,742,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RITM. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital in the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC raised its stake 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 valued at $48,000 after acquiring an additional 2,062 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Rithm Capital in the fourth quarter worth $81,000. FNY Investment Advisers LLC lifted its holdings in Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 8,600 shares during the period. Finally, Whittier Trust Co. boosted its holdings in shares of Rithm Capital by 1,860.7% in the fourth quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust's stock valued at $111,000 after acquiring an additional 9,750 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RITM shares. JMP Securities restated a "market outperform" rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush restated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a report on Friday, March 28th. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, B. Riley raised Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $13.25.

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Rithm Capital Stock Up 1.5 %

Shares of NYSE:RITM traded up $0.15 during midday trading on Monday, hitting $9.91. 677,321 shares of the stock were exchanged, compared to its average volume of 3,799,765. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The business's fifty day simple moving average is $11.48 and its two-hundred day simple moving average is $11.13. The company has a market capitalization of $5.16 billion, a PE ratio of 5.93 and a beta of 1.36.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.10%. Rithm Capital's payout ratio is currently 59.88%.

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.