SeaCrest Wealth Management LLC Trims Stock Position in Rithm Capital Corp. $RITM

SeaCrest Wealth Management LLC trimmed its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 59.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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

Rithm Capital Price Performance

Rithm Capital stock opened at $9.15 on Friday. The company has a market cap of $5.08 billion, a P/E ratio of 8.79 and a beta of 1.21. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The business 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 posted its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. As a group, analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on RITM shares. Piper Sandler restated an “overweight” rating and issued a $15.00 target price (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. UBS Group set a $15.00 price target on shares of Rithm Capital in a research note on Friday, February 6th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Wedbush began coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Rithm Capital 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.