Commonwealth Equity Services LLC Reduces Position in Rithm Capital Corp. (NYSE:RITM)

Commonwealth Equity Services LLC reduced its position in Rithm Capital Corp. (NYSE:RITM) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 429,497 shares of the real estate investment trust’s stock after selling 35,541 shares during the quarter. Commonwealth Equity Services LLC owned 0.08% of Rithm Capital worth $4,651,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RITM. Geode Capital Management LLC boosted its stake in shares of Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after buying an additional 366,600 shares during the period. JPMorgan Chase & Co. grew its stake in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Azora Capital LP increased its position in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Rithm Capital by 37.8% during the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after acquiring an additional 978,954 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

RITM stock opened at $11.59 on Monday. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm has a 50-day simple moving average of $11.64 and a two-hundred day simple moving average of $11.23.

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

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 8.63%. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Wall Street Analyst Weigh In

RITM has been the topic of several research analyst reports. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.25.

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.