Janney Montgomery Scott LLC cut its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,837 shares of the real estate investment trust's stock after selling 85,980 shares during the quarter. Janney Montgomery Scott LLC's holdings in Rithm Capital were worth $1,156,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew 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 worth $355,000 after buying an additional 4,765 shares in the last quarter. Washburn Capital Management Inc. acquired a new stake in Rithm Capital during the third quarter valued at approximately $114,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Rithm Capital during the third quarter valued at approximately $118,000. Wealth Enhancement Advisory Services LLC boosted its holdings 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 purchasing an additional 7,057 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in Rithm Capital by 2.9% during the third quarter. PFG Investments LLC now owns 65,262 shares of the real estate investment trust's stock valued at $741,000 after purchasing an additional 1,825 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on RITM shares. JMP Securities lifted their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a report on Friday, July 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.78.
Get Our Latest Stock Report on Rithm Capital
Rithm Capital Trading Down 0.6 %
RITM stock traded down $0.06 during trading on Friday, hitting $10.72. The company had a trading volume of 3,374,936 shares, compared to its average volume of 3,536,382. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average price of $10.99 and a 200-day moving average price of $11.15. Rithm Capital Corp. has a 12 month low of $9.94 and a 12 month high of $12.02. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 10.84 and a beta of 1.80.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analysts' expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current year.
Rithm Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.33%. The ex-dividend date was Tuesday, October 1st. Rithm Capital's dividend payout ratio (DPR) is 101.01%.
Rithm Capital Profile
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Free Report)
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.
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