Rithm Capital Corp. Declares Quarterly Dividend of $0.25 (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.63%.

Rithm Capital has raised its dividend by an average of 3.6% annually over the last three years. Rithm Capital has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Stock Down 2.1 %

Shares of RITM opened at $11.59 on Friday. Rithm Capital has a 1 year low of $10.38 and a 1 year high of $12.20. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The stock has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $11.23. The firm has a market cap of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. On average, analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $13.25.

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.