Rithm Capital Corp. (NYSE:RITM) to Issue Quarterly Dividend of $0.25

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Friday, September 20th, NASDAQ reports. Investors of record on Tuesday, October 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, November 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Tuesday, October 1st.

Rithm Capital has increased its dividend payment by an average of 26.0% per year over the last three years. Rithm Capital has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $1.87 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 53.5%.

Rithm Capital Trading Up 0.5 %

Rithm Capital stock traded up $0.06 during midday trading on Friday, reaching $11.32. 9,151,279 shares of the stock traded hands, compared to its average volume of 3,339,092. The firm has a market cap of $5.47 billion, a PE ratio of 7.55 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $11.21. Rithm Capital has a 12-month low of $8.87 and a 12-month high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. Research analysts expect that Rithm Capital will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RITM. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities lifted their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.60.

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.