Rithm Capital (NYSE:RITM) Posts Earnings Results, Beats Expectations By $0.05 EPS

Rithm Capital (NYSE:RITM) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05, Briefing.com reports. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 19.77% and a return on equity of 19.33%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share.

Rithm Capital Stock Performance

RITM stock traded down $0.26 during trading on Thursday, reaching $11.35. 5,667,172 shares of the company’s stock were exchanged, compared to its average volume of 3,289,866. The firm has a market cap of $5.49 billion, a PE ratio of 7.59 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 has a 1-year low of $8.87 and a 1-year high of $11.85. The company’s fifty day moving average price is $11.12 and its 200-day moving average price is $10.98.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.81%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RITM shares. Piper Sandler lifted their price target on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, May 9th. JMP Securities lifted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. B. Riley restated a “buy” rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.45.

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.