Jackson Thornton Wealth Management LLC Trims Stock Holdings in Rithm Capital Corp. $RITM

Jackson Thornton Wealth Management LLC lowered its holdings in Rithm Capital Corp. (NYSE:RITM) by 19.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,479 shares of the real estate investment trust’s stock after selling 3,734 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Rithm Capital were worth $180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SouthState Corp bought a new position in Rithm Capital during the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC lifted its holdings in Rithm Capital by 50.0% during the 1st 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 during the last quarter. Ameritas Advisory Services LLC bought a new position in Rithm Capital during the 2nd quarter worth approximately $43,000. SVB Wealth LLC bought a new position in Rithm Capital during the 1st quarter worth approximately $57,000. Finally, GAMMA Investing LLC lifted 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 buying an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.8%

RITM opened at $10.83 on Wednesday. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $5.74 billion, a P/E ratio of 8.33 and a beta of 1.31. The stock’s 50 day moving average price is $11.83 and its 200 day moving average price is $11.49.

Rithm Capital (NYSE:RITM) last posted its 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 return on equity of 18.89% and a net margin of 16.72%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.2%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. Royal Bank Of Canada increased their target price on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Wednesday, September 17th. UBS Group raised their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Jones Trading raised their price target on Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.25.

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.