Charles Schwab Investment Management Inc. Sells 4,630 Shares of Rithm Capital Corp. (NYSE:RITM)
Charles Schwab Investment Management Inc. reduced its stake in Rithm Capital Corp. (NYSE:RITM – Free Report) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,360,332 shares of the real estate investment trust’s stock after selling 4,630 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Rithm Capital were worth $58,052,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC grew its stake in Rithm Capital by 1.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Rithm Capital by 2.0% in the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Rithm Capital by 2.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 1,016 shares in the last quarter. US Bancorp DE lifted its position in shares of Rithm Capital by 3.7% in the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 1,155 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in shares of Rithm Capital by 2.3% in the 4th quarter. Apollon Wealth Management LLC now owns 53,856 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 1,211 shares during the period. 44.92% of the stock is currently owned by institutional investors.
Rithm Capital Trading Down 0.9 %
NYSE:RITM opened at $11.43 on Thursday. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.20. The firm has a 50 day moving average of $11.52 and a 200 day moving average of $11.23. 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 stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 6.84 and a beta of 1.83.
Rithm Capital (NYSE:RITM – Get Free Report) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.
Rithm Capital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.75%. Rithm Capital’s payout ratio is 59.88%.
Wall Street Analysts Forecast Growth
RITM has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Piper Sandler upped 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus price target of $13.25.
View Our Latest Research Report on Rithm Capital
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.
See Also
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