SeaCrest Wealth Management LLC Has $1.10 Million Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

SeaCrest Wealth Management LLC lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,176 shares of the real estate investment trust’s stock after purchasing an additional 1,610 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gilman Hill Asset Management LLC bought a new stake in Rithm Capital during the first quarter worth $126,000. Bank & Trust Co raised its holdings in shares of Rithm Capital by 1,678.6% during the 1st quarter. Bank & Trust Co now owns 11,739 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 11,079 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Rithm Capital by 1,268.2% during the 1st quarter. GAMMA Investing LLC now owns 53,139 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 49,255 shares during the last quarter. Quent Capital LLC boosted its stake in Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 2,019 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in Rithm Capital in the first quarter valued at about $98,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.0%

RITM opened at $11.33 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The company’s 50 day moving average price is $10.87 and its two-hundred day moving average price is $11.21. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 6.78 and a beta of 1.26.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $28.89 million for the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. Rithm Capital’s dividend payout ratio (DPR) is presently 83.33%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group dropped their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 25th. Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reiterated a “buy” rating and set a $12.50 price target on shares of Rithm Capital in a report on Tuesday, April 29th. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $13.56.

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.