Kovack Advisors Inc. Lowers Holdings in Rithm Capital Corp. (NYSE:RITM)

Kovack Advisors Inc. lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 28.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,105 shares of the real estate investment trust’s stock after selling 15,240 shares during the period. Kovack Advisors Inc.’s holdings in Rithm Capital were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after buying an additional 378,931 shares in the last quarter. Long Pond Capital LP bought a new stake in Rithm Capital in the first quarter worth $53,025,000. BlueCrest Capital Management Ltd lifted its position in Rithm Capital by 1.0% during the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after purchasing an additional 21,424 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after buying an additional 343,678 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Rithm Capital by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock valued at $19,128,000 after buying an additional 158,857 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of RITM stock opened at $10.79 on Friday. The company has a market capitalization of $5.61 billion, a P/E ratio of 10.89 and a beta of 1.80. The company’s 50-day simple moving average is $11.02 and its two-hundred day simple moving average is $11.16. Rithm Capital Corp. has a one year low of $9.94 and a one year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. 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 business posted $0.58 EPS. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.27%. Rithm Capital’s payout ratio is presently 101.01%.

Wall Street Analysts Forecast Growth

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

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.