Telemus Capital LLC Cuts Stake in Rithm Capital Corp. (NYSE:RITM)

Telemus Capital LLC lessened its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 527,438 shares of the real estate investment trust’s stock after selling 2,300 shares during the quarter. Telemus Capital LLC owned about 0.11% of Rithm Capital worth $5,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RITM. Castleview Partners LLC boosted its holdings in shares of Rithm Capital by 690.6% during the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 3,508 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of Rithm Capital in the 3rd quarter worth approximately $70,000. Harvest Fund Management Co. Ltd bought a new position in shares of Rithm Capital in the 3rd quarter worth approximately $94,000. Meeder Asset Management Inc. bought a new position in shares of Rithm Capital in the 4th quarter worth approximately $95,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Rithm Capital in the 3rd quarter worth approximately $103,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 1.1 %

NYSE:RITM opened at $10.94 on Tuesday. Rithm Capital Corp. has a twelve month low of $7.59 and a twelve month high of $11.33. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 9.94 and a beta of 1.82. The stock has a fifty day simple moving average of $10.82 and a 200-day simple moving average of $10.43. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last released its earnings results 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. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The business had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same period last year, the company earned $0.33 earnings per share. Analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.14%. Rithm Capital’s payout ratio is currently 90.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Argus increased their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. JMP Securities restated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research note on Monday, April 1st. Jonestrading lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, B. Riley lifted their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.00.

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.