Nwam LLC Has $789,000 Stake in Rithm Capital Corp. (NYSE:RITM)

Nwam LLC decreased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 23.2% in the fourth quarter, Holdings Channel reports. The fund owned 72,848 shares of the real estate investment trust’s stock after selling 21,955 shares during the period. Nwam LLC’s holdings in Rithm Capital were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after acquiring an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after buying an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares during the last quarter. Azora Capital LP raised its position in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Rithm Capital by 37.8% during the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after buying an additional 978,954 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE RITM opened at $12.14 on Friday. The stock has a market cap of $6.32 billion, a P/E ratio of 7.27 and a beta of 1.79. The company’s 50-day simple moving average is $11.39 and its 200 day simple moving average is $11.21. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.18. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

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, beating analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.24%. Rithm Capital’s dividend payout ratio is 59.88%.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.