FY2024 EPS Estimates for Rithm Capital Boosted by Analyst

Rithm Capital Corp. (NYSE:RITM) – Investment analysts at B. Riley upped their FY2024 EPS estimates for Rithm Capital in a note issued to investors on Monday, December 16th. B. Riley analyst M. Howlett now expects that the real estate investment trust will earn $1.96 per share for the year, up from their prior forecast of $1.88. The consensus estimate for Rithm Capital’s current full-year earnings is $1.93 per share.

A number of other analysts also recently issued reports on RITM. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.94.

Rithm Capital Price Performance

NYSE:RITM opened at $10.70 on Wednesday. The stock has a 50 day moving average price of $10.84 and a 200 day moving average price of $11.12. The stock has a market cap of $5.56 billion, a PE ratio of 10.81 and a beta of 1.80. 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 one year low of $9.97 and a one year high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the company earned $0.58 EPS.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s payout ratio is 101.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. grew its holdings in shares of Rithm Capital by 13,718.7% in the second quarter. 1620 Investment Advisors Inc. now owns 45,187 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 44,860 shares in the last quarter. &PARTNERS grew its stake in shares of Rithm Capital by 1.2% in the second quarter. &PARTNERS now owns 220,302 shares of the real estate investment trust’s stock worth $2,403,000 after acquiring an additional 2,637 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Rithm Capital during the second quarter worth $152,000. Institute for Wealth Management LLC. boosted its holdings in Rithm Capital by 12.0% in the second quarter. Institute for Wealth Management LLC. now owns 66,576 shares of the real estate investment trust’s stock valued at $726,000 after purchasing an additional 7,111 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in Rithm Capital during the 2nd quarter worth $263,000. 44.92% of the stock is currently owned by hedge funds and other 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.