Rithm Capital Corp. (NYSE:RITM) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC decreased its position in Rithm Capital Corp. (NYSE:RITM) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,885 shares of the real estate investment trust’s stock after selling 17,045 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Rithm Capital were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RITM. Creative Planning lifted its holdings in shares of Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock valued at $875,000 after buying an additional 13,152 shares during the period. International Assets Investment Management LLC raised its position in shares of Rithm Capital by 895.6% during the third quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust’s stock worth $1,902,000 after purchasing an additional 150,782 shares during the period. Highland Capital Management LLC raised its position in shares of Rithm Capital by 10.2% during the third quarter. Highland Capital Management LLC now owns 54,125 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 5,000 shares during the period. Allworth Financial LP raised its position in shares of Rithm Capital by 281.2% during the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares during the period. Finally, PFG Investments LLC raised its position in shares of Rithm Capital by 2.9% during the third quarter. PFG Investments LLC now owns 65,262 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 1,825 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.8 %

NYSE:RITM opened at $11.89 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.10. The business’s fifty day moving average price is $11.31 and its 200 day moving average price is $11.19. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is currently 59.88%.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Rithm Capital presently has an average rating of “Buy” and an average price target of $13.07.

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.