Transcend Capital Advisors LLC Sells 17,045 Shares of Rithm Capital Corp. (NYSE:RITM)

Transcend Capital Advisors LLC lessened its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 51,885 shares of the real estate investment trust’s stock after selling 17,045 shares during the period. Transcend Capital Advisors LLC’s holdings in Rithm Capital were worth $562,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Pacific Sun Financial Corp boosted its stake in shares of Rithm Capital by 51.0% during the 4th quarter. Pacific Sun Financial Corp now owns 30,322 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 10,247 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Rithm Capital by 28.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 108,684 shares of the real estate investment trust’s stock worth $1,177,000 after acquiring an additional 24,039 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Rithm Capital by 16.9% during the 4th quarter. Handelsbanken Fonder AB now owns 143,994 shares of the real estate investment trust’s stock worth $1,559,000 after acquiring an additional 20,800 shares in the last quarter. Angel Oak Capital Advisors LLC bought a new stake in shares of Rithm Capital during the 4th quarter worth about $3,074,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Rithm Capital by 18.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 382,722 shares of the real estate investment trust’s stock worth $4,145,000 after acquiring an additional 60,922 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.89 on Friday. The stock has a 50 day moving average of $11.31 and a two-hundred day moving average of $11.19. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.10. The company has a market capitalization of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. Rithm Capital’s payout ratio is presently 59.88%.

Analyst Ratings Changes

Several analysts recently weighed in on RITM shares. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Piper Sandler increased their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.07.

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.