Mercer Global Advisors Inc. ADV Sells 44,008 Shares of Rithm Capital Corp. (NYSE:RITM)

Mercer Global Advisors Inc. ADV reduced its position in Rithm Capital Corp. (NYSE:RITM) by 21.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 165,927 shares of the real estate investment trust’s stock after selling 44,008 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Rithm Capital were worth $1,797,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its stake in shares of Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after purchasing an additional 951 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 960 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after acquiring an additional 967 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Rithm Capital by 2.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 1,016 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 1,155 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RITM. Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reissued a “buy” rating and set a $12.50 price target on shares of Rithm Capital in a report on Tuesday, April 29th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday, March 28th. UBS Group lowered their target price on Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rithm Capital has an average rating of “Buy” and a consensus price target of $13.61.

Rithm Capital Stock Up 0.9 %

RITM stock opened at $11.28 on Thursday. The business’s 50-day moving average price is $11.01 and its 200-day moving average price is $11.10. The stock has a market cap of $5.98 billion, a P/E ratio of 6.75 and a beta of 1.32. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.87%. Rithm Capital’s payout ratio is presently 83.33%.

Rithm Capital 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.