Rithm Capital Corp. (NYSE:RITM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 383,146 shares of the real estate investment trust’s stock after selling 42,913 shares during the period. New York State Common Retirement Fund owned 0.08% of Rithm Capital worth $4,092,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RITM. Castleview Partners LLC boosted its stake in shares of Rithm Capital by 690.6% during the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 3,508 shares in the last quarter. BluePath Capital Management LLC acquired a new position in Rithm Capital during the third quarter worth about $70,000. Harvest Fund Management Co. Ltd purchased a new stake in Rithm Capital during the 3rd quarter valued at about $94,000. Meeder Asset Management Inc. acquired a new stake in Rithm Capital in the 4th quarter valued at about $95,000. Finally, Fox Run Management L.L.C. purchased a new position in Rithm Capital in the 3rd quarter worth approximately $103,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.6 %

NYSE RITM opened at $11.32 on Monday. The firm’s 50-day moving average is $10.95 and its two-hundred day moving average is $10.56. Rithm Capital Corp. has a 12 month low of $7.59 and a 12 month high of $11.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $5.48 billion, a P/E ratio of 7.55 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The company had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were given a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. Rithm Capital’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RITM shares. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. B. Riley raised their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a report on Thursday, April 18th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and an average target price of $12.05.

Rithm Capital Company 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.