Stephens Inc. AR Reduces Stock Position in Rithm Capital Corporation (NYSE:RITM)

Stephens Inc. AR reduced its position in shares of Rithm Capital Corporation (NYSE:RITM – Get Rating) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,633 shares of the real estate investment trust’s stock after selling 2,710 shares during the period. Stephens Inc. AR’s holdings in Rithm Capital were worth $369,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TCI Wealth Advisors Inc. boosted its holdings in shares of Rithm Capital by 311.1% during the first quarter. TCI Wealth Advisors Inc. now owns 2,454 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,857 shares during the period. UMB Bank N A MO purchased a new stake in shares of Rithm Capital during the fourth quarter worth about $32,000. First Horizon Advisors Inc. boosted its holdings in shares of Rithm Capital by 207.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 2,245 shares during the period. Horan Securities Inc. purchased a new stake in shares of Rithm Capital during the fourth quarter worth about $42,000. Finally, National Bank of Canada FI purchased a new stake in shares of Rithm Capital during the fourth quarter worth about $42,000. 46.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Credit Suisse Group lowered their price objective on shares of Rithm Capital to $12.00 in a report on Friday, July 22nd. Piper Sandler lowered shares of Rithm Capital from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $10.00 in a report on Monday, June 13th. Finally, StockNews.com upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Rithm Capital Price Performance

RITM stock opened at $9.87 on Friday. The firm has a 50 day moving average price of $10.07 and a 200-day moving average price of $10.42. Rithm Capital Corporation has a 52-week low of $8.18 and a 52-week high of $11.81. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 4.37 and a beta of 1.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44.

Rithm Capital (NYSE:RITM – Get Rating) last released its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Rithm Capital had a net margin of 28.82% and a return on equity of 13.84%. During the same quarter last year, the business earned $0.31 earnings per share. Equities research analysts forecast that Rithm Capital Corporation will post 1.21 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.13%. The ex-dividend date was Thursday, June 30th. Rithm Capital’s dividend payout ratio (DPR) is currently 44.25%.

Rithm Capital Company Profile

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New Residential Investment Corp. is a real estate investment trust, which aims to generate long-term value for investors by investing in mortgage related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate.

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