Rithm Capital (NYSE:RITM) Shares Gap Down to $10.91

Rithm Capital Corp. (NYSE:RITM) shares gapped down prior to trading on Monday . The stock had previously closed at $10.91, but opened at $10.68. Rithm Capital shares last traded at $10.69, with a volume of 324,436 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, May 9th. JMP Securities restated a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. Piper Sandler boosted their price objective on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, B. Riley restated a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.32.

Rithm Capital Stock Down 0.5 %

The company has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $10.91. 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 firm has a market cap of $5.13 billion, a P/E ratio of 7.07 and a beta of 1.82.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.43%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Rithm Capital

A number of hedge funds have recently made changes to their positions in RITM. Norges Bank bought a new position in shares of Rithm Capital in the fourth quarter worth about $63,896,000. Long Pond Capital LP bought a new position in shares of Rithm Capital in the first quarter worth about $53,025,000. Northern Trust Corp boosted its stake in shares of Rithm Capital by 69.3% in the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock worth $35,581,000 after acquiring an additional 1,567,489 shares during the period. MGO One Seven LLC boosted its stake in shares of Rithm Capital by 4,525.1% in the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after acquiring an additional 751,895 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Rithm Capital by 360.6% in the third quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after acquiring an additional 749,058 shares during the period. Institutional investors own 44.92% of the company’s stock.

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.