Brokerages Set Rithm Capital Corp. (NYSE:RITM) Target Price at $12.94

Shares of Rithm Capital Corp. (NYSE:RITM) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.94.

RITM has been the subject of a number of research reports. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd.

Rithm Capital Trading Down 0.6 %

RITM opened at $10.92 on Wednesday. Rithm Capital has a 52 week low of $9.97 and a 52 week 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. The business has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $11.11. The firm has a market cap of $5.68 billion, a P/E ratio of 11.03 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period last year, the business posted $0.58 EPS. On average, equities analysts expect that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors have recently added to or reduced their stakes in RITM. JPMorgan Chase & Co. raised its holdings in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Rithm Capital by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust’s stock valued at $13,467,000 after buying an additional 9,859 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital during the 3rd quarter worth $43,000. Sanctuary Advisors LLC lifted its position in Rithm Capital by 19.3% in the third quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 2,988 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Rithm Capital in the third quarter valued at $1,476,000. Hedge funds and other 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.