Redhawk Wealth Advisors Inc. Sells 14,443 Shares of Rithm Capital Corp. (NYSE:RITM)

Redhawk Wealth Advisors Inc. lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITMFree Report) by 22.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,688 shares of the real estate investment trust’s stock after selling 14,443 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Rithm Capital were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC grew its stake in shares of Rithm Capital by 31.3% during the third quarter. Exchange Traded Concepts LLC now owns 244,796 shares of the real estate investment trust’s stock valued at $2,778,000 after purchasing an additional 58,356 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Rithm Capital during the 3rd quarter worth $73,000. Atomi Financial Group Inc. boosted its position in Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 1,481 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Rithm Capital by 10.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 123,194 shares of the real estate investment trust’s stock valued at $1,398,000 after buying an additional 11,700 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Rithm Capital during the third quarter worth $4,112,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RITM has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, August 13th. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities raised their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Get Our Latest Research Report on Rithm Capital

Rithm Capital Stock Performance

RITM stock opened at $10.77 on Tuesday. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The firm has a market cap of $5.20 billion, a PE ratio of 7.18 and a beta of 1.80. The business’s 50-day moving average price is $11.36 and its two-hundred day moving average price is $11.19.

Rithm Capital (NYSE:RITMGet Free Report) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $0.62 EPS. Rithm Capital’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.29%. Rithm Capital’s dividend payout ratio is currently 66.67%.

About Rithm Capital

(Free Report)

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.

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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