Stevens Capital Management LP Sells 50,700 Shares of Rithm Capital Corp. (NYSE:RITM)

Stevens Capital Management LP decreased its position in Rithm Capital Corp. (NYSE:RITM) by 78.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,600 shares of the real estate investment trust’s stock after selling 50,700 shares during the quarter. Stevens Capital Management LP’s holdings in Rithm Capital were worth $145,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Rithm Capital in the 4th quarter worth about $34,000. Castleview Partners LLC boosted its holdings in shares of Rithm Capital by 690.6% in the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Rithm Capital in the 3rd quarter worth about $70,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Rithm Capital in the 3rd quarter worth about $94,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.8 %

RITM stock opened at $11.21 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $10.89 and its 200 day moving average is $10.48. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 10.19 and a beta of 1.82. Rithm Capital Corp. has a 1-year low of $7.59 and a 1-year high of $11.33.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period in the prior year, the business earned $0.33 earnings per share. Sell-side analysts predict that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s payout ratio is currently 90.91%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. B. Riley upped their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Monday, April 1st. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.00.

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.