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

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Tuesday, March 24th. Shareholders of record on Monday, April 6th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, April 30th. This represents a c) annualized dividend and a yield of 11.0%. The ex-dividend date is Monday, April 6th.

Rithm Capital has increased its dividend payment by an average of 0.1%per year over the last three years. Rithm Capital has a dividend payout ratio of 46.5% 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 Performance

NYSE RITM opened at $9.13 on Wednesday. Rithm Capital has a 1-year low of $8.43 and a 1-year high of $12.74. The company has a 50 day moving average of $10.49 and a 200-day moving average of $10.99. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 8.77 and a beta of 1.21.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. On average, equities analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RITM. Forty three Eighteen Advisors LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $810,000. Rockefeller Capital Management L.P. boosted its holdings in Rithm Capital by 47.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 311,705 shares of the real estate investment trust’s stock valued at $3,398,000 after acquiring an additional 99,880 shares during the last quarter. Fund Advisors of America Inc FL acquired a new stake in Rithm Capital in the fourth quarter worth about $206,000. Corient Private Wealth LLC increased its position in Rithm Capital by 2.8% in the fourth quarter. Corient Private Wealth LLC now owns 278,811 shares of the real estate investment trust’s stock worth $3,039,000 after purchasing an additional 7,556 shares during the period. Finally, SHP Wealth Management bought a new stake in Rithm Capital during the 4th quarter worth about $70,000. 44.92% of the stock is currently owned by institutional investors.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.