LPL Financial LLC lessened its holdings in Rithm Capital Corp. (NYSE:RITM – Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,313 shares of the real estate investment trust’s stock after selling 12,881 shares during the quarter. LPL Financial LLC owned 0.08% of Rithm Capital worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC raised its stake in Rithm Capital by 0.9% in the 3rd quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust’s stock valued at $1,163,000 after acquiring an additional 1,139 shares during the period. Yousif Capital Management LLC raised its holdings in Rithm Capital by 5.9% during the 1st quarter. Yousif Capital Management LLC now owns 21,710 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 1,210 shares during the period. Simplicity Solutions LLC lifted its position in shares of Rithm Capital by 8.0% during the third quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 1,214 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Rithm Capital by 6.4% in the first quarter. Prospera Financial Services Inc now owns 21,928 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 1,324 shares during the period. Finally, Beacon Pointe Advisors LLC grew its position in shares of Rithm Capital by 11.7% in the second quarter. Beacon Pointe Advisors LLC now owns 12,874 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 1,345 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Rithm Capital Stock Down 0.5 %
NYSE:RITM opened at $10.92 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $5.28 billion, a P/E ratio of 9.93 and a beta of 1.82. Rithm Capital Corp. has a fifty-two week low of $7.40 and a fifty-two week high of $11.15. The firm has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $10.20.
Rithm Capital (NYSE:RITM – Get Free Report) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The business had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. During the same quarter last year, the company earned $0.33 EPS. Analysts predict that Rithm Capital Corp. will post 1.66 earnings per share for the current fiscal year.
Rithm Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.16%. The ex-dividend date was Thursday, December 28th. Rithm Capital’s payout ratio is currently 90.91%.
Analysts Set New Price Targets
RITM has been the topic of several recent analyst reports. Argus increased their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. B. Riley lifted their price target on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. JMP Securities raised their target price on shares of Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, January 18th. UBS Group started coverage on shares of Rithm Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 price target on the stock. Finally, Jonestrading lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and an average price target of $12.00.
Read Our Latest Report on Rithm Capital
Rithm Capital Company Profile
Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.
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