Rithm Capital’s (RITM) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Rithm Capital (NYSE:RITM) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $12.50 price objective on the real estate investment trust’s stock.

A number of other analysts have also recently commented on RITM. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $12.94.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.32 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The company’s 50-day moving average is $11.04 and its 200 day moving average is $11.13. The stock has a market capitalization of $5.88 billion, a P/E ratio of 11.43 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts expect that Rithm Capital will post 1.95 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.84%. Rithm Capital’s payout ratio is currently 101.01%.

Institutional Trading of Rithm Capital

Several institutional investors have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Rithm Capital by 5.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 29,778 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 1,475 shares during the period. DAVENPORT & Co LLC increased its holdings in Rithm Capital by 136.4% in the 4th quarter. DAVENPORT & Co LLC now owns 57,450 shares of the real estate investment trust’s stock worth $622,000 after acquiring an additional 33,150 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in Rithm Capital by 2.5% during the 4th quarter. Institute for Wealth Management LLC. now owns 68,545 shares of the real estate investment trust’s stock worth $742,000 after acquiring an additional 1,647 shares during the period. EMC Capital Management lifted its holdings in Rithm Capital by 1,349.0% during the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 32,930 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of Rithm Capital by 2.6% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 57,849 shares of the real estate investment trust’s stock worth $657,000 after purchasing an additional 1,457 shares during the period. 44.92% of the stock is currently owned by hedge funds and other 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.