Thrivent Financial for Lutherans Trims Stock Position in Rithm Capital Corp. (NYSE:RITM)

Thrivent Financial for Lutherans lessened its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 59.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,981 shares of the real estate investment trust's stock after selling 242,971 shares during the quarter. Thrivent Financial for Lutherans' holdings in Rithm Capital were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of RITM. AQR Capital Management LLC lifted its stake in Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 1,183 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Rithm Capital by 8.3% during the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust's stock valued at $176,000 after purchasing an additional 1,216 shares during the last quarter. Founders Financial Alliance LLC boosted its stake in Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust's stock worth $556,000 after purchasing an additional 1,286 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,461 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust's stock valued at $280,000 after acquiring an additional 1,481 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RITM shares. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Rithm Capital has an average rating of "Moderate Buy" and an average target price of $12.78.

Rithm Capital Trading Up 0.6 %

RITM stock traded up $0.07 during midday trading on Friday, hitting $11.25. 2,117,399 shares of the company's stock were exchanged, compared to its average volume of 3,531,099. The stock has a market capitalization of $5.85 billion, a PE ratio of 11.29 and a beta of 1.80. 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 business has a 50-day simple moving average of $10.85 and a two-hundred day simple moving average of $11.13. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.58 EPS. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital's dividend payout ratio (DPR) is presently 101.01%.

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.