Analysts Set Rithm Capital Corp. (NYSE:RITM) Target Price at $12.67

Rithm Capital Corp. (NYSE:RITM) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.67.

A number of analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. JMP Securities boosted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.65 on Friday. Rithm Capital has a 52-week low of $8.87 and a 52-week high of $12.02. The firm has a market capitalization of $5.15 billion, a PE ratio of 7.10 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company’s fifty day moving average price is $11.36 and its two-hundred day moving average price is $11.19.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results 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 company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. On average, analysts expect that Rithm Capital will post 1.82 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after acquiring an additional 378,931 shares during the last quarter. Long Pond Capital LP bought a new stake in shares of Rithm Capital in the first quarter valued at approximately $53,025,000. BlueCrest Capital Management Ltd grew its stake in Rithm Capital by 1.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after buying an additional 21,424 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Rithm Capital by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock worth $22,494,000 after acquiring an additional 78,838 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Rithm Capital by 9.4% in the first quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust’s stock worth $22,581,000 after acquiring an additional 174,523 shares during the period. 44.92% of the stock is owned by institutional investors.

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.