Janney Montgomery Scott LLC Decreases Stock Position in Rithm Capital Corp. (NYSE:RITM)

Janney Montgomery Scott LLC lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 6.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 400,481 shares of the real estate investment trust’s stock after selling 27,528 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rithm Capital were worth $4,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. 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 shares of Rithm Capital in the fourth quarter worth $2,813,000. Capula Management Ltd purchased a new stake in shares of Rithm Capital in the third quarter worth $910,000. Private Advisor Group LLC boosted its stake in Rithm Capital by 15.5% during the fourth quarter. Private Advisor Group LLC now owns 70,548 shares of the real estate investment trust’s stock valued at $753,000 after buying an additional 9,463 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in shares of Rithm Capital during the 4th quarter valued at about $114,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Down 1.4 %

Shares of NYSE RITM opened at $11.15 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a 12 month low of $7.80 and a 12 month high of $11.60. The firm has a fifty day simple moving average of $11.07 and a two-hundred day simple moving average of $10.74. The firm has a market capitalization of $5.39 billion, a PE ratio of 7.43 and a beta of 1.80.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 8.97%. Rithm Capital’s payout ratio is 66.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RITM. JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, May 9th. Argus boosted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jonestrading upped their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler raised their price target on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.32.

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.