Rithm Capital Corp. (NYSE:RITM) Stake Lessened by M&T Bank Corp

M&T Bank Corp cut its stake in Rithm Capital Corp. (NYSE:RITM) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,141 shares of the real estate investment trust’s stock after selling 4,180 shares during the period. M&T Bank Corp’s holdings in Rithm Capital were worth $175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RITM. SeaCrest Wealth Management LLC boosted its holdings in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after buying an additional 951 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after buying an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Rithm Capital by 2.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 1,016 shares in the last quarter. US Bancorp DE boosted its holdings in Rithm Capital by 3.7% during the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,155 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in Rithm Capital by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 53,856 shares of the real estate investment trust’s stock worth $583,000 after buying an additional 1,211 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Up 2.1 %

RITM stock opened at $11.66 on Friday. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 6.98 and a beta of 1.83. The company has a 50 day moving average of $11.56 and a two-hundred day moving average of $11.23.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.58%. Rithm Capital’s dividend payout ratio is currently 59.88%.

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.