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

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus rating of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

Several brokerages recently issued reports on RITM. B. Riley lifted their price objective on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th.

Rithm Capital Stock Down 0.0 %

RITM opened at $11.13 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $10.86 and a 200-day simple moving average of $10.46. The stock has a market capitalization of $5.38 billion, a P/E ratio of 10.11 and a beta of 1.82. Rithm Capital has a 12 month low of $7.59 and a 12 month high of $11.33.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

Institutional Investors Weigh In On Rithm Capital

A number of institutional investors have recently added to or reduced their stakes in RITM. Parkside Financial Bank & Trust grew its position in Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,136 shares during the period. American National Bank acquired a new position in shares of Rithm Capital during the fourth quarter worth about $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Rithm Capital during the fourth quarter worth about $34,000. Finally, Castleview Partners LLC lifted its stake in shares of Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 3,508 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.