1776 Wealth LLC Has $583,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

1776 Wealth LLC lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,409 shares of the real estate investment trust’s stock after selling 7,130 shares during the quarter. 1776 Wealth LLC’s holdings in Rithm Capital were worth $583,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RITM. Van ECK Associates Corp increased its holdings in Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after purchasing an additional 343,678 shares during the last quarter. Natixis bought a new stake in shares of Rithm Capital in the first quarter worth about $689,000. Waterfall Asset Management LLC bought a new stake in shares of Rithm Capital in the second quarter worth about $2,209,000. SG Americas Securities LLC bought a new stake in shares of Rithm Capital in the third quarter worth about $4,112,000. Finally, Vanguard Group Inc. increased its holdings in shares of Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after acquiring an additional 378,931 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

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

Rithm Capital Stock Down 0.6 %

RITM traded down $0.06 during midday trading on Friday, reaching $10.72. 3,374,936 shares of the company were exchanged, compared to its average volume of 3,536,382. Rithm Capital Corp. has a one year low of $9.94 and a one year high of $12.02. The company’s fifty day moving average price is $10.99 and its 200 day moving average price is $11.15. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 10.84 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.33%. Rithm Capital’s payout ratio is 101.01%.

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.