Rithm Capital Corp. (NYSE:RITM) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC cut its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 18.2% during the first quarter, Holdings Channel.com reports. The fund owned 34,977 shares of the real estate investment trust’s stock after selling 7,780 shares during the period. Requisite Capital Management LLC’s holdings in Rithm Capital were worth $399,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Rithm Capital in the 4th quarter worth about $63,896,000. Northern Trust Corp boosted its holdings in Rithm Capital by 69.3% in the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock worth $35,581,000 after buying an additional 1,567,489 shares during the last quarter. MGO One Seven LLC boosted its holdings in Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after buying an additional 751,895 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Rithm Capital by 360.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after buying an additional 749,058 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Up 1.4 %

NYSE RITM traded up $0.15 on Tuesday, reaching $10.73. The stock had a trading volume of 2,586,488 shares, compared to its average volume of 3,263,890. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 7.15 and a beta of 1.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $11.60. The stock has a fifty day moving average price of $11.15 and a two-hundred day moving average price of $10.91.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date is Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, May 9th. Finally, Piper Sandler lifted their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.32.

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.