Corient Private Wealth LLC Lowers Position in Rithm Capital Corp. (NYSE:RITM)

Corient Private Wealth LLC decreased its stake in Rithm Capital Corp. (NYSE:RITM) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,189 shares of the real estate investment trust’s stock after selling 18,346 shares during the quarter. Corient Private Wealth LLC’s holdings in Rithm Capital were worth $1,572,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RITM. JPMorgan Chase & Co. lifted its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Azora Capital LP lifted its position in shares of Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after acquiring an additional 2,271,671 shares in the last quarter. Soros Fund Management LLC bought a new position in shares of Rithm Capital in the third quarter worth about $23,835,000. Maven Securities LTD purchased a new stake in shares of Rithm Capital during the third quarter worth about $11,350,000. Finally, Wellington Management Group LLP raised its stake in Rithm Capital by 37.8% during the 3rd 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 purchasing an additional 978,954 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.9 %

Shares of RITM opened at $11.68 on Wednesday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. 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 company’s fifty day moving average is $11.66 and its 200 day moving average is $11.23. The stock has a market capitalization of $6.08 billion, a PE ratio of 6.99 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.56%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

Analyst Ratings Changes

Several research firms have weighed in on RITM. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler increased their price objective on shares of 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Company 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.