Edgestream Partners L.P. Sells 122,005 Shares of Rithm Capital Corp. (NYSE:RITM)

Edgestream Partners L.P. lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 407,887 shares of the real estate investment trust’s stock after selling 122,005 shares during the quarter. Edgestream Partners L.P. owned approximately 0.08% of Rithm Capital worth $4,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Seelaus Asset Management LLC lifted its holdings in shares of Rithm Capital by 2.7% in the first quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 955 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in Rithm Capital by 3.8% in the 1st quarter. Leavell Investment Management Inc. now owns 27,264 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Rithm Capital by 15.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,200 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in Rithm Capital by 1.7% in the 1st quarter. SeaCrest Wealth Management LLC now owns 94,567 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 1,547 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,661 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RITM. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, May 9th. Piper Sandler increased their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. B. Riley reissued a “buy” rating and set a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Finally, JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.45.

Rithm Capital Stock Up 0.3 %

NYSE:RITM traded up $0.04 during trading hours on Monday, hitting $11.66. 3,197,381 shares of the company traded hands, compared to its average volume of 3,245,529. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $10.94. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $11.79. The company has a market cap of $5.64 billion, a PE ratio of 7.77 and a beta of 1.82.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.58%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

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.