Rithm Capital Corp. (NYSE:RITM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,884 shares of the real estate investment trust's stock after selling 54,097 shares during the period. Thrivent Financial for Lutherans' holdings in Rithm Capital were worth $1,180,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. JPMorgan Chase & Co. increased its stake in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Rithm Capital during the third quarter valued at approximately $1,476,000. Bank of New York Mellon Corp lifted its position in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust's stock valued at $20,755,000 after acquiring an additional 159,506 shares in the last quarter. EMC Capital Management boosted its stake in shares of Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust's stock worth $383,000 after acquiring an additional 32,930 shares during the last quarter. Finally, Meridian Financial Partners LLC acquired a new position in Rithm Capital in the 4th quarter valued at $898,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RITM shares. JMP Securities reaffirmed 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 upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Wedbush restated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. Finally, Piper Sandler upped their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 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 data from MarketBeat.com, Rithm Capital has an average rating of "Buy" and an average price target of $13.25.

Rithm Capital Stock Down 2.5 %

Shares of NYSE:RITM traded down $0.29 on Thursday, hitting $11.26. 5,134,998 shares of the company's stock were exchanged, compared to its average volume of 3,601,943. 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 1-year low of $10.38 and a 1-year high of $12.20. The company has a market capitalization of $5.86 billion, a PE ratio of 6.74 and a beta of 1.83. The firm's 50-day moving average is $11.70 and its 200 day moving average is $11.23.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results 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%. Sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.88%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio is presently 59.88%.

About Rithm Capital

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.