Rithm Capital Corp. (NYSE:RITM) Stock Has Average Target Price of $12.80

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.80.

Several equities research analysts have recently commented on RITM shares. Weiss Ratings lowered Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Wedbush initiated coverage on Rithm Capital in a research report on Thursday, October 22nd. They set an “outperform” rating and a $10.00 target price on the stock. BTIG Research lowered their price target on shares of Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, UBS Group decreased their target price on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 21st.

Insider Activity

In other news, Director Peggy Hebard sold 14,520 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the transaction, the director directly owned 82,259 shares in the company, valued at approximately $837,396.62. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in Rithm Capital during the third quarter valued at $29,000. Altshuler Shaham Ltd raised its holdings in shares of Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,800 shares during the period. Bogart Wealth LLC raised its holdings in shares of Rithm Capital by 108.5% in the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,144 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Rithm Capital during the 1st quarter worth approximately $41,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Rithm Capital during the 2nd quarter worth approximately $42,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Down 1.1%

Shares of Rithm Capital stock opened at $9.30 on Friday. Rithm Capital has a twelve month low of $8.31 and a twelve month high of $12.15. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 2.12. The company’s 50 day moving average is $9.31 and its 200 day moving average is $9.72. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.58 and a beta of 1.16.

Rithm Capital (NYSE:RITM) last posted its earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.47 billion. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. Research analysts anticipate that Rithm Capital will post 2.32 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 10.8%. Rithm Capital’s dividend payout ratio is presently 158.73%.

Rithm Capital Company Profile

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.