Sunbelt Securities Inc. Has $195,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Sunbelt Securities Inc. lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,216 shares of the real estate investment trust’s stock after selling 5,429 shares during the quarter. Sunbelt Securities Inc.’s holdings in Rithm Capital were worth $195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares during the period. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $43,000. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital in the 3rd quarter valued at $51,000. Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital during the 3rd quarter worth $73,000. Finally, Summit Securities Group LLC bought a new position in Rithm Capital during the second quarter worth about $74,000. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RITM. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.94.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.12 on Friday. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $11.12. The firm has a market cap of $5.78 billion, a PE ratio of 11.23 and a beta of 1.80. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the previous year, the firm posted $0.58 EPS. Equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Rithm Capital’s dividend payout ratio is 101.01%.

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.