Selective Wealth Management Inc. Decreases Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Selective Wealth Management Inc. cut its stake in Rithm Capital Corp. (NYSE:RITM) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,168 shares of the real estate investment trust’s stock after selling 1,195 shares during the period. Selective Wealth Management Inc.’s holdings in Rithm Capital were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Rithm Capital during the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital during the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,062 shares in the last quarter. Finally, Godsey & Gibb Inc. acquired a new stake in Rithm Capital during the 3rd quarter valued at $51,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RITM has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Stock Up 0.7 %

Shares of RITM opened at $11.34 on Friday. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The company’s fifty day moving average is $10.98 and its two-hundred day moving average is $11.10. The firm has a market cap of $5.89 billion, a PE ratio of 11.45 and a beta of 1.79. 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 posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the previous year, the business earned $0.58 earnings per share. Analysts forecast that Rithm Capital Corp. will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.82%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

About Rithm Capital

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.