Deseret Mutual Benefit Administrators Sells 937 Shares of Rithm Capital Corp. (NYSE:RITM)

Deseret Mutual Benefit Administrators decreased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,778 shares of the real estate investment trust’s stock after selling 937 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Rithm Capital were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Rithm Capital by 8.8% in the 2nd quarter. Larson Financial Group LLC now owns 138,282 shares of the real estate investment trust’s stock worth $1,509,000 after buying an additional 11,213 shares during the period. Capital Square LLC boosted its holdings in Rithm Capital by 2.2% in the 2nd quarter. Capital Square LLC now owns 245,510 shares of the real estate investment trust’s stock worth $2,863,000 after buying an additional 5,211 shares during the period. Rothschild Investment LLC bought a new position in Rithm Capital in the 2nd quarter worth $313,000. Burney Co. boosted its holdings in Rithm Capital by 133.4% in the 2nd quarter. Burney Co. now owns 114,598 shares of the real estate investment trust’s stock worth $1,250,000 after buying an additional 65,507 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Rithm Capital by 16.8% during the 2nd quarter. HB Wealth Management LLC now owns 13,722 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 1,978 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $11.62 on Friday. The firm has a market cap of $5.62 billion, a PE ratio of 7.74 and a beta of 1.82. The firm’s 50 day simple moving average is $11.28 and its 200-day simple moving average is $11.11. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $11.94. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. As a group, equities analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.61%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities upped their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler upped their target price on shares of Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, B. Riley restated a “buy” rating and set a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

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.