Diligent Investors LLC Sells 17,488 Shares of Rithm Capital Corp. $RITM

Diligent Investors LLC lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 63.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,032 shares of the real estate investment trust’s stock after selling 17,488 shares during the quarter. Diligent Investors LLC’s holdings in Rithm Capital were worth $113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RITM. Geneos Wealth Management Inc. increased its position in shares of Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares in the last quarter. GAMMA Investing LLC increased its holdings in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Rithm Capital by 8.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 945 shares in the last quarter. Private Advisor Group LLC grew its holdings in Rithm Capital by 2.0% during the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after buying an additional 974 shares in the last quarter. Finally, Fourth Dimension Wealth LLC grew its holdings in Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

RITM stock opened at $11.15 on Friday. The firm has a 50 day moving average of $12.16 and a 200-day moving average of $11.54. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The firm has a market capitalization of $5.91 billion, a P/E ratio of 8.57 and a beta of 1.31.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.0%. Rithm Capital’s payout ratio is presently 76.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a research report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Finally, UBS Group increased their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and an average price target of $14.25.

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.