MQS Management LLC Sells 6,769 Shares of Rithm Capital Corp. (NYSE:RITM)

MQS Management LLC cut its stake in Rithm Capital Corp. (NYSE:RITM) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,656 shares of the real estate investment trust’s stock after selling 6,769 shares during the quarter. MQS Management LLC’s holdings in Rithm Capital were worth $144,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares during the period. Founders Financial Alliance LLC raised its position in shares of Rithm Capital by 2.6% in the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 1,286 shares during the period. Abich Financial Wealth Management LLC raised its position in shares of Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares during the period. Atomi Financial Group Inc. increased its position in Rithm Capital by 6.4% during the third quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 1,481 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 0.5 %

Shares of Rithm Capital stock opened at $10.73 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.84 and a beta of 1.80. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12-month low of $9.94 and a 12-month high of $12.02. The firm’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $11.15.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company posted $0.58 EPS. On average, analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. Rithm Capital’s payout ratio is currently 101.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on RITM shares. JMP Securities raised their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.78.

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.