HighTower Advisors LLC Decreases Stake in Rithm Capital Corp. (NYSE:RITM)

HighTower Advisors LLC decreased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,100 shares of the real estate investment trust's stock after selling 68,655 shares during the period. HighTower Advisors LLC's holdings in Rithm Capital were worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RITM. Larson Financial Group LLC boosted its holdings in shares of Rithm Capital by 19.6% during the 4th quarter. Larson Financial Group LLC now owns 174,762 shares of the real estate investment trust's stock worth $1,893,000 after buying an additional 28,650 shares in the last quarter. Raymond James Financial Inc. bought a new position in Rithm Capital during the fourth quarter worth $7,572,000. Arizona State Retirement System grew its holdings in Rithm Capital by 8.3% in the fourth quarter. Arizona State Retirement System now owns 150,834 shares of the real estate investment trust's stock worth $1,634,000 after purchasing an additional 11,620 shares during the period. Aigen Investment Management LP bought a new stake in Rithm Capital in the fourth quarter valued at $271,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Rithm Capital during the fourth quarter valued at about $176,000. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM stock traded down $0.04 during trading on Thursday, hitting $11.63. The company's stock had a trading volume of 2,827,512 shares, compared to its average volume of 3,866,913. The business has a fifty day moving average of $11.67 and a 200-day moving average of $11.23. The company has a market cap of $6.05 billion, a PE ratio of 6.96 and a beta of 1.83. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.19. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date is Monday, March 31st. Rithm Capital's payout ratio is 59.88%.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research analyst reports. B. Riley raised Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. JMP Securities restated a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Piper Sandler upped their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.25.

Rithm Capital 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.