Rithm Capital Corp. (NYSE:RITM) Given Average Recommendation of “Buy” by Brokerages

Rithm Capital Corp. (NYSE:RITM) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.94.

Several analysts recently issued reports on RITM shares. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th.

Institutional Trading of Rithm Capital

A number of institutional investors have recently modified their holdings of RITM. AQR Capital Management LLC lifted its position in shares of Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 1,183 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Rithm Capital during the 2nd quarter worth $173,000. Creative Planning raised its holdings in shares of Rithm Capital by 20.6% during the 3rd quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock worth $875,000 after buying an additional 13,152 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Rithm Capital by 10.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 93,615 shares of the real estate investment trust’s stock worth $1,063,000 after buying an additional 9,009 shares in the last quarter. Finally, Seven Grand Managers LLC acquired a new position in shares of Rithm Capital during the 3rd quarter worth $11,918,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $12.03 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12 month low of $10.36 and a 12 month high of $12.10. The stock has a 50 day moving average of $11.24 and a 200-day moving average of $11.16. The company has a market capitalization of $6.25 billion, a P/E ratio of 7.20 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. As a group, equities research analysts predict that Rithm Capital will post 1.92 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.32%. Rithm Capital’s payout ratio is 59.88%.

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.