Rithm Capital Corp. (NYSE:RITM) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in Rithm Capital Corp. (NYSE:RITM) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,935 shares of the real estate investment trust’s stock after selling 42,163 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rithm Capital were worth $1,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after acquiring an additional 366,600 shares in the last quarter. Azora Capital LP boosted its holdings in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after purchasing an additional 978,954 shares in the last quarter. Soros Fund Management LLC purchased a new position in Rithm Capital in the third quarter valued at approximately $23,835,000. Finally, Van ECK Associates Corp raised its holdings in Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.94.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.17 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02. The company has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $11.12. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 11.28 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $0.58 EPS. On average, analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.96%. 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.