Rithm Capital (NYSE:RITM) Sets New 12-Month High at $11.33

Shares of Rithm Capital Corp. (NYSE:RITM) hit a new 52-week high during trading on Monday . The company traded as high as $11.33 and last traded at $11.27, with a volume of 1206291 shares traded. The stock had previously closed at $11.21.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley increased their price target 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. Jonestrading increased their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, Argus increased their price target 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. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $12.00.

Rithm Capital Trading Up 0.3 %

The firm has a market capitalization of $5.40 billion, a P/E ratio of 10.11 and a beta of 1.82. The business’s 50-day moving average is $10.91 and its 200 day moving average is $10.52. 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 released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same period last year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.97%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s dividend payout ratio is 90.91%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds have recently bought and sold shares of the company. Jump Financial LLC increased its holdings in Rithm Capital by 668.7% in the 3rd quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock valued at $2,002,000 after buying an additional 187,460 shares during the period. Lewis Asset Management LLC bought a new position in Rithm Capital in the 4th quarter valued at about $2,813,000. Capula Management Ltd bought a new position in Rithm Capital in the 3rd quarter valued at about $910,000. Ritholtz Wealth Management acquired a new stake in shares of Rithm Capital in the 4th quarter valued at approximately $114,000. Finally, Invesco Ltd. boosted its stake in shares of Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 480,769 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

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.