Requisite Capital Management LLC Lowers Position in Rithm Capital Corp. (NYSE:RITM)

Requisite Capital Management LLC cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,977 shares of the real estate investment trust’s stock after selling 7,780 shares during the quarter. Requisite Capital Management LLC’s holdings in Rithm Capital were worth $399,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Rithm Capital during the 4th quarter valued at about $63,896,000. Charles Schwab Investment Management Inc. grew its position in Rithm Capital by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,853,568 shares of the real estate investment trust’s stock worth $51,836,000 after acquiring an additional 94,989 shares during the last quarter. Northern Trust Corp grew its position in Rithm Capital by 69.3% during 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 acquiring an additional 1,567,489 shares during the last quarter. Advisors Capital Management LLC grew its position in Rithm Capital by 2.8% during the 3rd quarter. Advisors Capital Management LLC now owns 2,435,331 shares of the real estate investment trust’s stock worth $22,624,000 after acquiring an additional 66,750 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Rithm Capital by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock worth $22,494,000 after acquiring an additional 78,838 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on RITM. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, May 9th. Argus raised their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. B. Riley reiterated a “buy” rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Finally, Piper Sandler lifted their price objective on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.32.

Rithm Capital Stock Up 1.4 %

Shares of 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 debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day simple moving average of $11.15 and a 200-day simple moving average of $10.91. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $11.60.

Rithm Capital Announces Dividend

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

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.