SeaCrest Wealth Management LLC Boosts Stock Position in Rithm Capital Corp. (NYSE:RITM)

SeaCrest Wealth Management LLC boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 93,020 shares of the real estate investment trust’s stock after acquiring an additional 6,660 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $967,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. Lazard Asset Management LLC purchased a new stake in shares of Rithm Capital during the fourth quarter worth approximately $34,000. American International Group Inc. acquired a new stake in Rithm Capital during the 4th quarter worth $36,000. Castleview Partners LLC grew its holdings in shares of Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Rithm Capital by 55.5% in the first quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,760 shares in the last quarter. Finally, BluePath Capital Management LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $70,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RITM shares. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Monday, February 26th. Argus boosted their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Jonestrading raised their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. UBS Group began coverage on shares of Rithm Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 target price on the stock. Finally, B. Riley raised their price target on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Stock Performance

NYSE RITM traded up $0.09 during trading on Friday, reaching $11.16. The company’s stock had a trading volume of 2,815,681 shares, compared to its average volume of 2,861,536. Rithm Capital Corp. has a twelve month low of $7.59 and a twelve month high of $11.33. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 10.14 and a beta of 1.82. The business’s fifty day moving average price is $10.79 and its 200-day moving average price is $10.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, analysts anticipate that Rithm Capital Corp. will post 1.67 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 90.91%.

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.