Rithm Capital Corp. (NYSE:RITM) Receives $12.67 Average Price Target from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have received an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.78.

Several equities research analysts recently weighed in on RITM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday. Finally, JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th.

Institutional Investors Weigh In On Rithm Capital

A number of institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP purchased a new stake in shares of Rithm Capital in the first quarter worth about $53,025,000. Seven Grand Managers LLC acquired a new position in Rithm Capital during the 3rd quarter worth approximately $11,918,000. LMR Partners LLP purchased a new position in Rithm Capital in the 3rd quarter worth approximately $7,378,000. Vanguard Group Inc. grew its position 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 valued at $511,305,000 after acquiring an additional 378,931 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Rithm Capital during the third quarter valued at approximately $4,112,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 1.0 %

RITM opened at $10.67 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company’s 50 day simple moving average is $11.10 and its two-hundred day simple moving average is $11.17. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 10.77 and a beta of 1.80. Rithm Capital has a 1-year low of $9.68 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. During the same period last year, the business earned $0.58 earnings per share. Analysts expect that Rithm Capital will post 1.85 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.38%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

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.