AIA Group Ltd Sells 7,799 Shares of Rithm Capital Corp. (NYSE:RITM)

AIA Group Ltd trimmed its position in shares of Rithm Capital Corp. (NYSE:RITM) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,886 shares of the real estate investment trust’s stock after selling 7,799 shares during the quarter. AIA Group Ltd’s holdings in Rithm Capital were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital in the third quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 8,600 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Rithm Capital by 1,860.7% during the fourth quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 9,750 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $120,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.6 %

Shares of NYSE RITM opened at $11.46 on Tuesday. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-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 stock has a market cap of $5.96 billion, a P/E ratio of 6.86 and a beta of 1.83. The firm has a 50 day moving average price of $11.69 and a 200 day moving average price of $11.23.

Rithm Capital (NYSE:RITM) last announced its quarterly 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%. Analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Friday. Piper Sandler raised their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective 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 set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus price target of $13.25.

About Rithm Capital

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.