Amalgamated Bank reduced its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 70.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,562 shares of the real estate investment trust's stock after selling 59,656 shares during the quarter. Amalgamated Bank's holdings in Rithm Capital were worth $290,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in RITM. Long Pond Capital LP acquired a new stake in shares of Rithm Capital in the 1st quarter valued at $53,025,000. Seven Grand Managers LLC acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at $11,918,000. Vanguard Group Inc. raised its holdings in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock valued at $511,305,000 after purchasing an additional 378,931 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at $4,112,000. Finally, Sei Investments Co. raised its holdings in shares of Rithm Capital by 725.7% in the 1st quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust's stock valued at $4,412,000 after purchasing an additional 347,499 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.
Rithm Capital Trading Down 0.6 %
RITM traded down $0.06 during trading on Monday, hitting $10.66. 3,350,913 shares of the company's stock were exchanged, compared to its average volume of 3,535,554. The stock 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 1 year low of $9.97 and a 1 year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a market cap of $5.54 billion, a P/E ratio of 10.83 and a beta of 1.80.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million for 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 period in the previous year, the company posted $0.58 earnings per share. As a group, analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital's dividend payout ratio is presently 101.01%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Rithm Capital has a consensus rating of "Moderate Buy" and an average target price of $12.78.
View Our Latest Stock Report on Rithm Capital
Rithm Capital Profile
(
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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