AIA Group Ltd Lowers Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

AIA Group Ltd lowered its position in shares of Rithm Capital Corp. (NYSE:RITM) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,685 shares of the real estate investment trust’s stock after selling 13,660 shares during the period. AIA Group Ltd’s holdings in Rithm Capital were worth $1,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Rithm Capital in the first quarter worth approximately $30,000. Abich Financial Wealth Management LLC raised its stake in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. bought a new stake in Rithm Capital during the third quarter valued at approximately $51,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Rithm Capital in the 3rd quarter worth approximately $73,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RITM. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, JMP Securities lifted their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Trading Up 1.0 %

Shares of NYSE RITM opened at $10.78 on Friday. The stock has a market cap of $5.60 billion, a P/E ratio of 10.89 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.49. Rithm Capital Corp. has a 1 year low of $9.68 and a 1 year high of $12.02. The firm has a 50-day moving average of $11.08 and a 200 day moving average of $11.16.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.58 EPS. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.28%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 101.01%.

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.