Rithm Capital Corp. (NYSE:RITM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.60.

RITM has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th.

Rithm Capital Trading Up 1.7 %

Shares of Rithm Capital stock opened at $11.77 on Monday. Rithm Capital has a 1 year low of $8.87 and a 1 year high of $11.94. The company’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $11.16. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 7.85 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, sell-side analysts expect that Rithm Capital will post 1.82 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.50%. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its position in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Rithm Capital during the first quarter valued at $30,000. Raleigh Capital Management Inc. boosted its holdings in Rithm Capital by 125.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in Rithm Capital during the 1st quarter valued at about $62,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.