Rithm Capital (NYSE:RITM) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Rithm Capital (NYSE:RITM) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $13.00 price objective on the real estate investment trust’s stock.

Separately, Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Rithm Capital has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Trading Up 1.8 %

NYSE:RITM opened at $10.98 on Thursday. The stock has a fifty day simple moving average of $10.90 and a 200 day simple moving average of $11.13. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 11.09 and a beta of 1.80. Rithm Capital has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.58 earnings per share. Sell-side analysts forecast that Rithm Capital will post 1.89 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s payout ratio is presently 101.01%.

Institutional Investors Weigh In On Rithm Capital

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after buying an additional 343,678 shares in the last quarter. Natixis acquired a new position in Rithm Capital during the first quarter worth $689,000. Waterfall Asset Management LLC bought a new position in shares of Rithm Capital during the second quarter valued at $2,209,000. SG Americas Securities LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $4,112,000. Finally, Vanguard Group Inc. lifted its holdings in Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. 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.