Founders Financial Alliance LLC Reduces Holdings in Rithm Capital Corp. (NYSE:RITM)

Founders Financial Alliance LLC lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,961 shares of the real estate investment trust’s stock after selling 926 shares during the period. Founders Financial Alliance LLC’s holdings in Rithm Capital were worth $541,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RITM. Geode Capital Management LLC boosted its stake in shares of Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after acquiring an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Azora Capital LP grew its holdings in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after buying an additional 2,271,671 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after buying an additional 978,954 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $11.52 on Tuesday. The business’s fifty day moving average price is $11.50 and its 200 day moving average price is $11.23. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $6.00 billion, a P/E ratio of 6.90 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.68%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RITM. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Piper Sandler raised their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $13.25.

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.