Stevens Capital Management LP Sells 50,700 Shares of Rithm Capital Corp. (NYSE:RITM)

Stevens Capital Management LP cut its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 78.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,600 shares of the real estate investment trust’s stock after selling 50,700 shares during the quarter. Stevens Capital Management LP’s holdings in Rithm Capital were worth $145,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jump Financial LLC boosted its stake in Rithm Capital by 668.7% in the 3rd quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after purchasing an additional 187,460 shares during the period. Lewis Asset Management LLC bought a new position in Rithm Capital in the 4th quarter worth approximately $2,813,000. Capula Management Ltd bought a new position in Rithm Capital in the 3rd quarter worth approximately $910,000. Ritholtz Wealth Management bought a new position in Rithm Capital in the 4th quarter worth approximately $114,000. Finally, Invesco Ltd. boosted its stake in Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.21 on Friday. The stock’s fifty day moving average is $10.89 and its 200 day moving average is $10.48. Rithm Capital Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $11.33. The firm has a market capitalization of $5.42 billion, a PE ratio of 10.19 and a beta of 1.82. 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 released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same quarter last year, the firm posted $0.33 earnings per share. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.92%. Rithm Capital’s payout ratio is 90.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RITM shares. JMP Securities reiterated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. B. Riley increased their target price on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. Finally, Argus increased their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $12.00.

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.