Axxcess Wealth Management LLC Sells 13,782 Shares of Rithm Capital Corp. (NYSE:RITM)

Axxcess Wealth Management LLC trimmed its position in shares of Rithm Capital Corp. (NYSE:RITM) by 45.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,651 shares of the real estate investment trust’s stock after selling 13,782 shares during the period. Axxcess Wealth Management LLC’s holdings in Rithm Capital were worth $180,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RITM. Truvestments Capital LLC bought a new stake in shares of Rithm Capital in the third quarter valued at about $43,000. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital in the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC raised its position in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC raised its position in Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. acquired a new position in Rithm Capital in the third quarter worth about $114,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Down 2.1 %

Shares of NYSE RITM opened at $11.59 on Friday. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company’s fifty day moving average is $11.64 and its 200-day moving average is $11.23. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.63%. Rithm Capital’s payout ratio is 59.88%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RITM. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.25.

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.