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

Allianz Asset Management GmbH lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,334,264 shares of the real estate investment trust’s stock after selling 83,605 shares during the period. Allianz Asset Management GmbH owned approximately 0.45% of Rithm Capital worth $25,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RITM. Truvestments Capital LLC acquired a new position in Rithm Capital during the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital during the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC increased its position in Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. Allworth Financial LP increased 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 purchasing an additional 6,414 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its position in Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods upped 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. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 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 research report on Friday, February 7th. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $13.07.

Rithm Capital Trading Down 0.3 %

RITM opened at $11.86 on Tuesday. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month 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 company has a fifty day moving average of $11.32 and a 200-day moving average of $11.19. The stock has a market cap of $6.17 billion, a PE ratio of 7.10 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

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

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.