Keefe, Bruyette & Woods Issues Positive Forecast for Rithm Capital (NYSE:RITM) Stock Price

Rithm Capital (NYSE:RITM) had its price target increased by Keefe, Bruyette & Woods from $13.00 to $13.50 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.16 on Tuesday. The stock’s fifty day moving average is $10.81 and its 200-day moving average is $11.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02. The stock has a market capitalization of $5.80 billion, a PE ratio of 11.27 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating 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 firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company posted $0.58 EPS. Equities research analysts expect that Rithm Capital will post 1.89 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. Investors of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. Rithm Capital’s dividend payout ratio is 101.01%.

Hedge Funds Weigh In On Rithm Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 purchasing an additional 1,525 shares during the period. Truvestments Capital LLC bought a new stake in shares of Rithm Capital in the 3rd quarter valued at about $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital in the third quarter valued at approximately $43,000. Godsey & Gibb Inc. acquired a new stake in Rithm Capital during the 3rd quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $73,000. 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.