State Street Corp Has $98.02 Million Holdings in Rithm Capital Corp. (NYSE:RITM)

State Street Corp trimmed its stake in Rithm Capital Corp. (NYSE:RITM) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,636,445 shares of the real estate investment trust’s stock after selling 9,816 shares during the period. State Street Corp owned about 1.66% of Rithm Capital worth $98,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. increased its position in shares of Rithm Capital by 13,718.7% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 45,187 shares of the real estate investment trust’s stock worth $493,000 after purchasing an additional 44,860 shares in the last quarter. &PARTNERS raised its stake in shares of Rithm Capital by 1.2% in the second quarter. &PARTNERS now owns 220,302 shares of the real estate investment trust’s stock valued at $2,403,000 after acquiring an additional 2,637 shares during the last quarter. Traynor Capital Management Inc. acquired a new position in shares of Rithm Capital in the 2nd quarter worth approximately $152,000. Institute for Wealth Management LLC. increased its holdings in Rithm Capital by 12.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 66,576 shares of the real estate investment trust’s stock valued at $726,000 after purchasing an additional 7,111 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Rithm Capital in the 2nd quarter valued at $263,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.12 on Monday. The company has a market cap of $5.78 billion, a PE ratio of 11.23 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. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The company’s 50-day moving average is $10.82 and its two-hundred day moving average is $11.12.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RITM. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus target price of $12.94.

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.