Rithm Capital Corp. (NYSE:RITM) Receives $12.94 Average Target Price from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.94.

A number of equities research analysts have recently issued reports on RITM shares. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.94 on Thursday. The company has a 50-day moving average of $11.28 and a 200-day moving average of $11.17. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 7.15 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a twelve month low of $10.38 and a twelve month high of $12.10.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.38%. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RITM. Norges Bank bought a new position in Rithm Capital in the fourth quarter worth $76,082,000. JPMorgan Chase & Co. increased its holdings in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Azora Capital LP increased its holdings in Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock valued at $70,780,000 after buying an additional 2,136,342 shares during the last quarter. Finally, Soros Fund Management LLC bought a new stake in Rithm Capital during the 3rd quarter worth about $23,835,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.