Maridea Wealth Management LLC Reduces Stake in Rithm Capital Corp. (NYSE:RITM)

Maridea Wealth Management LLC lowered its holdings in Rithm Capital Corp. (NYSE:RITM) by 8.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 63,993 shares of the real estate investment trust’s stock after selling 6,255 shares during the quarter. Maridea Wealth Management LLC’s holdings in Rithm Capital were worth $733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its position in shares of Rithm Capital by 1.2% during the fourth quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust’s stock valued at $2,379,000 after purchasing an additional 2,701 shares in the last quarter. Wedbush Securities Inc. raised its stake in Rithm Capital by 13.7% during the fourth quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock valued at $2,509,000 after buying an additional 27,924 shares during the last quarter. KBC Group NV raised its stake in Rithm Capital by 24.0% during the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 4,423 shares during the last quarter. Vanguard Group Inc. raised its stake in Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after buying an additional 184,802 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Rithm Capital by 5.9% during the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, May 20th. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 25th. Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Finally, Jones Trading reissued a “buy” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.69.

Rithm Capital Price Performance

NYSE RITM opened at $12.19 on Monday. The company has a market capitalization of $6.46 billion, a PE ratio of 10.15 and a beta of 1.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. The business’s fifty day moving average is $11.49 and its 200 day moving average is $11.35. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.31.

Rithm Capital (NYSE:RITM) last released its 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 company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same period in the previous year, the business earned $0.48 earnings per share. Sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.21%. Rithm Capital’s dividend payout ratio (DPR) 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.