Kovack Advisors Inc. Sells 2,154 Shares of Rithm Capital Corp. (NYSE:RITM)

Kovack Advisors Inc. reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,935 shares of the real estate investment trust’s stock after selling 2,154 shares during the period. Kovack Advisors Inc.’s holdings in Rithm Capital were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Rithm Capital by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,758,579 shares of the real estate investment trust’s stock valued at $44,207,000 after buying an additional 172,517 shares during the period. Northern Trust Corp raised its position in Rithm Capital by 69.3% during the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after purchasing an additional 1,567,489 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Rithm Capital by 0.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,089,008 shares of the real estate investment trust’s stock valued at $28,697,000 after purchasing an additional 25,323 shares in the last quarter. Advisors Capital Management LLC raised its position in Rithm Capital by 2.8% during the third quarter. Advisors Capital Management LLC now owns 2,435,331 shares of the real estate investment trust’s stock valued at $22,624,000 after purchasing an additional 66,750 shares in the last quarter. Finally, Invesco Ltd. raised its position in Rithm Capital by 67.0% during the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 480,769 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RITM. B. Riley boosted 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. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.00.

Rithm Capital Stock Up 0.8 %

Shares of NYSE:RITM opened at $11.21 on Friday. The firm has a market cap of $5.42 billion, a P/E ratio of 10.19 and a beta of 1.82. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 12-month low of $7.59 and a 12-month high of $11.33. The business has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $10.48.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.92%. The ex-dividend date was 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.