Rithm Capital Corp. (RITM) to Issue Quarterly Dividend of $0.25 on January 31st

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.16%. The ex-dividend date of this dividend is Tuesday, December 31st.

Rithm Capital has increased its dividend by an average of 26.0% annually over the last three years. Rithm Capital has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 52.1%.

Rithm Capital Stock Down 0.6 %

Rithm Capital stock opened at $10.92 on Friday. The stock has a market cap of $5.68 billion, a PE ratio of 11.03 and a beta of 1.80. The firm’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $11.11. 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 fifty-two week low of $9.97 and a fifty-two week 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 EPS 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 company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.58 EPS. Research analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on RITM shares. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.94.

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.