SeaCrest Wealth Management LLC Decreases Holdings in Rithm Capital Corp. $RITM

SeaCrest Wealth Management LLC lowered its position in Rithm Capital Corp. (NYSE:RITM) by 59.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,074 shares of the real estate investment trust’s stock after selling 69,545 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RITM. Bessemer Group Inc. raised its holdings in Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Rithm Capital during the third quarter worth $31,000. Mather Group LLC. acquired a new stake in Rithm Capital in the third quarter valued at $33,000. Optimum Investment Advisors grew its holdings in Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Rithm Capital in the third quarter valued at $43,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RITM. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Wedbush initiated coverage on shares of Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $15.00 target price (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. UBS Group set a $15.00 price target on shares of Rithm Capital in a report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Rithm Capital Stock Performance

Rithm Capital stock opened at $9.15 on Friday. Rithm Capital Corp. has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 8.79 and a beta of 1.21. The stock has a fifty day moving average of $10.36 and a two-hundred day moving average of $10.94. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date is Monday, April 6th. Rithm Capital’s dividend payout ratio is 96.15%.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.