Rithm Capital (NYSE:RITM) PT Raised to $12.00

Rithm Capital (NYSE:RITM) had its target price lifted by Keefe, Bruyette & Woods from $11.50 to $12.00 in a report released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts also recently commented on RITM. Royal Bank of Canada restated an outperform rating and set a $12.00 price objective on shares of Rithm Capital in a research report on Monday, April 1st. B. Riley raised their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Wedbush reaffirmed an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Argus raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, JMP Securities raised their target price on shares of Rithm Capital from $10.50 to $11.00 and gave the company a market outperform rating in a research note on Thursday, January 18th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $12.00.

Rithm Capital Stock Up 1.3 %

Shares of RITM stock opened at $10.66 on Tuesday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.69 and a beta of 1.82. Rithm Capital has a one year low of $7.59 and a one year high of $11.33. The company’s fifty day moving average price is $10.81 and its 200-day moving average price is $10.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period last year, the firm earned $0.33 EPS. Sell-side analysts expect that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.39%. Rithm Capital’s payout ratio is currently 90.91%.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors and hedge funds have recently made changes to their positions in RITM. JPMorgan Chase & Co. grew its stake in shares of Rithm Capital by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 713,031 shares of the real estate investment trust’s stock worth $7,830,000 after buying an additional 16,278 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Rithm Capital by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,880,926 shares of the real estate investment trust’s stock worth $20,650,000 after purchasing an additional 369,564 shares during the period. Roundview Capital LLC purchased a new position in shares of Rithm Capital during the 1st quarter worth about $165,000. US Bancorp DE boosted its stake in shares of Rithm Capital by 79.1% during the 1st quarter. US Bancorp DE now owns 40,483 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 17,879 shares during the period. Finally, Cetera Advisor Networks LLC boosted its stake in shares of Rithm Capital by 49.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 20,101 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 6,682 shares during the period. 44.92% of the stock is 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.