Rithm Capital Corp. (NYSE:RITM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rithm Capital Corp. (NYSE:RITM) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.6111.

Several research analysts have commented on the company. Wall Street Zen downgraded Rithm Capital from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group cut their target price on Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Wedbush cut their target price on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Citigroup reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th. Finally, BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Friday, April 10th.

Insider Buying and Selling at Rithm Capital

In other news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. This trade represents a 64.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Curi Capital LLC raised its position in shares of Rithm Capital by 0.7% in the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after acquiring an additional 829 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares in the last quarter. City Holding Co. raised its position in shares of Rithm Capital by 35.1% in the 4th quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. Westbourne Investment Advisors Inc. raised its position in shares of Rithm Capital by 1.8% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Fort Sheridan Advisors LLC raised its position in shares of Rithm Capital by 0.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock worth $4,002,000 after acquiring an additional 1,000 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Up 1.7%

Shares of RITM opened at $9.26 on Wednesday. The company has a market capitalization of $5.17 billion, a PE ratio of 8.49 and a beta of 1.14. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74. The stock’s 50-day moving average price is $9.58 and its two-hundred day moving average price is $10.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. On average, analysts anticipate that Rithm Capital will post 2.27 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.8%. Rithm Capital’s dividend payout ratio (DPR) is 91.74%.

Rithm Capital Company Profile

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.