Atria Wealth Solutions Inc. reduce stock position in Rithm Capital Corp. (NYSE:RITM)

VaselineAugust 25, 2024

0 4 minutes read

Atria Wealth Solutions Inc. reduced its stake in Rithm Capital Corp. (NYSE:RITM – Free Report) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,406 shares of the real estate investment trust’s stock after selling 7,811 shares during the quarter. The holdings of Atria Wealth Solutions Inc. holdings in Rithm Capital were worth $1,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis purchased a new stake in Rithm Capital in the first quarter valued at approximately $689,000. Allianz Asset Management GmbH boosted its holdings in Rithm Capital by 107.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Rithm Capital by 14.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 2,614 shares during the last quarter. Slagle Financial LLC boosted its holdings in Rithm Capital by 99.1% in the fourth quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock worth $5,068,000 after purchasing an additional 236,199 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s shares.

Analyst upgrades and downgrades

Several brokerages have recently issued reports on RITM. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities upped their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. Finally, Piper Sandler upped their target price on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Rithm Capital currently has an average rating of “Moderate Buy” and an average target price of $12.55, according to MarketBeat .

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Rithm Capital Stock Up 1.4%

Shares of RITM stock opened at $11.57 on Friday. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 7.71 and a beta of 1.82. Rhythm Capital Corp. it has a one year low of $8.87 and a one year high of $11.85. The company’s fifty day moving average price is $11.16 and its 200 day moving average price is $11.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29, and a quick ratio of 0.29.

Rithm Capital (NYSE:RITM – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.20%. The company’s revenue increased by 18.4% year-on-year. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts expect that Rithm Capital Corp. will record 1.78 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were paid a dividend of $0.25 per share. The ex-dividend date was Monday, July 1. This represents an annualized dividend of $1.00 and a yield of 8.65%. Rithm Capital’s payout ratio is 66.67%.

Rithm Capital Company Profile

(Free report)

Rhythm Capital Corp. operates as an asset manager focused on real estate, credit and financial services. It operates through the segments of origination and servicing, investment portfolio, mortgage loan receivables and asset management. Its investment portfolio primarily comprises mortgage servicing rights (MSRs) and MSR financing receivables, securities, property valuation and preservation, excess MSRs and advance servicing investments; real estate, call rights, SFR properties and residential mortgage loans; consumer and business loans; and investments related to asset management.