Lineweaver Wealth Advisors LLC Decreases Stake in Rithm Capital Corp. (NYSE:RITM)

Lineweaver Wealth Advisors LLC cut its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,230 shares of the real estate investment trust’s stock after selling 27,818 shares during the quarter. Lineweaver Wealth Advisors LLC’s holdings in Rithm Capital were worth $923,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RITM. Truvestments Capital LLC purchased a new stake in Rithm Capital during the 3rd quarter valued at about $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital during the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Rithm Capital by 86.7% in 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 buying an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 8,600 shares during the period. Finally, Allworth Financial LP raised its position in Rithm Capital by 281.2% during the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 6,414 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Up 0.7 %

RITM stock opened at $12.03 on Thursday. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.10. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The firm has a market cap of $6.26 billion, a P/E ratio of 7.20 and a beta of 1.79. The company’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.20.

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

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.32%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is presently 59.88%.

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $13.07.

About Rithm Capital

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.