Rithm Capital (NYSE:RITM) Hits New 12-Month High at $11.61

Rithm Capital Corp. (NYSE:RITM) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.61 and last traded at $11.60, with a volume of 860161 shares changing hands. The stock had previously closed at $11.50.

Wall Street Analyst Weigh In

RITM has been the subject of several recent research reports. Piper Sandler lifted their price objective on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. B. Riley reiterated a “buy” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.45.

Rithm Capital Price Performance

The stock has a fifty day moving average of $11.10 and a two-hundred day moving average of $10.91. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 7.71 and a beta of 1.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.61%. Rithm Capital’s payout ratio is 66.67%.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its stake in shares of 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 last quarter. American National Bank acquired a new stake in shares of Rithm Capital during the fourth quarter valued at $27,000. Bessemer Group Inc. acquired a new stake in shares of Rithm Capital during the first quarter valued at $30,000. Raleigh Capital Management Inc. boosted 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 valued at $32,000 after acquiring an additional 1,661 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Rithm Capital during the fourth quarter valued at $34,000. 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.