Rithm Capital Corp. (RITM) To Go Ex-Dividend on July 1st

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Monday, July 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, July 26th. This represents a $1.00 annualized dividend and a yield of 8.98%. The ex-dividend date is Monday, July 1st.

Rithm Capital has increased its dividend by an average of 26.0% annually over the last three years. Rithm Capital has a dividend payout ratio of 54.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 53.8%.

Rithm Capital Stock Down 0.5 %

NYSE RITM opened at $11.13 on Thursday. Rithm Capital has a 52 week low of $8.87 and a 52 week high of $11.60. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 7.42 and a beta of 1.80. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $11.12 and a two-hundred day moving average of $10.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RITM shares. JMP Securities reiterated a “market outperform” rating and set a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. B. Riley reaffirmed a “buy” rating and set a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Piper Sandler increased their price target on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Argus boosted their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Rithm Capital in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus target price of $12.32.

Rithm Capital Company 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.