Analysts Set Rithm Capital Corp. (NYSE:RITM) Price Target at $14.25

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average rating of “Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.25.

RITM has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 8th. Jones Trading restated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Thursday, October 30th. UBS Group lifted their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th.

Insider Activity at Rithm Capital

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Zeiden sold 19,285 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in Rithm Capital by 11.5% in the second quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock worth $117,426,000 after purchasing an additional 1,052,130 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rithm Capital in the 2nd quarter worth about $96,027,000. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock worth $101,528,000 after acquiring an additional 98,307 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Rithm Capital by 80.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after acquiring an additional 3,524,330 shares during the period. Finally, Norges Bank purchased a new position in Rithm Capital during the 2nd quarter valued at about $72,762,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Down 0.1%

RITM stock opened at $11.13 on Wednesday. The company has a market capitalization of $6.17 billion, a PE ratio of 7.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45. Rithm Capital has a one year low of $9.13 and a one year high of $12.74. The company’s 50 day moving average price is $11.04 and its two-hundred day moving average price is $11.58.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.0%. Rithm Capital’s dividend payout ratio (DPR) is presently 68.97%.

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.