Allianz Asset Management GmbH Sells 83,605 Shares of Rithm Capital Corp. (NYSE:RITM)

Allianz Asset Management GmbH cut its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,334,264 shares of the real estate investment trust’s stock after selling 83,605 shares during the quarter. Allianz Asset Management GmbH’s holdings in Rithm Capital were worth $25,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RITM. Truvestments Capital LLC bought a new position in shares of Rithm Capital during the third quarter valued at about $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the third quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,062 shares in the last quarter. Allworth Financial LP lifted its position in shares of Rithm Capital by 281.2% during the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 6,414 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 0.3 %

Shares of RITM opened at $11.86 on Tuesday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.10. The business has a 50-day moving average of $11.32 and a 200 day moving average of $11.19. The firm has a market cap of $6.17 billion, a P/E ratio of 7.10 and a beta of 1.79. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.44%. Rithm Capital’s payout ratio is 59.88%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $13.07.

Rithm Capital 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.