Thrivent Financial for Lutherans Sells 56,873 Shares of Rithm Capital Corp. $RITM

Thrivent Financial for Lutherans lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 131,760 shares of the real estate investment trust’s stock after selling 56,873 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in Rithm Capital during the second quarter worth $30,000. Mather Group LLC. bought a new stake in shares of Rithm Capital in the 3rd quarter worth about $33,000. Optimum Investment Advisors boosted its stake in shares of Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 2,000 shares during the period. Valley Wealth Managers Inc. bought a new position in Rithm Capital during the 3rd quarter valued at about $46,000. Finally, Quent Capital LLC bought a new position in Rithm Capital during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RITM shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (down previously from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. UBS Group set a $15.00 target price on Rithm Capital in a research report on Friday, February 6th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Trading Down 1.2%

Shares of NYSE RITM opened at $10.58 on Friday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The firm has a market cap of $5.86 billion, a PE ratio of 10.17 and a beta of 1.20. The business has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $11.48. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a return on equity of 20.19% and a net margin of 15.55%. Analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio is presently 96.15%.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.