Rithm Capital Corp. (NYSE:RITM) Receives $13.35 Consensus Target Price from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.20.

Several research analysts have recently issued reports on RITM shares. Weiss Ratings cut Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Wedbush dropped their target price on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Capital One Financial set a $12.50 price target on shares of Rithm Capital in a report on Thursday, April 9th. UBS Group reduced their price target on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Citigroup restated an “outperform” rating on shares of Rithm Capital in a research note on Wednesday, May 20th.

Insider Activity

In related news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares in the company, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors have recently modified their holdings of the stock. AIA Group Ltd boosted its position in Rithm Capital by 86.9% in the 3rd quarter. AIA Group Ltd now owns 326,436 shares of the real estate investment trust’s stock worth $3,718,000 after purchasing an additional 151,733 shares in the last quarter. Waterfall Asset Management LLC grew its stake in shares of Rithm Capital by 169.7% during the 3rd quarter. Waterfall Asset Management LLC now owns 360,573 shares of the real estate investment trust’s stock worth $4,115,000 after purchasing an additional 226,859 shares during the period. Magnetar Financial LLC increased its holdings in shares of Rithm Capital by 188.8% during the 3rd quarter. Magnetar Financial LLC now owns 295,499 shares of the real estate investment trust’s stock valued at $3,366,000 after purchasing an additional 193,167 shares in the last quarter. Algert Global LLC increased its holdings in shares of Rithm Capital by 92.4% during the 3rd quarter. Algert Global LLC now owns 1,535,938 shares of the real estate investment trust’s stock valued at $17,494,000 after purchasing an additional 737,708 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Rithm Capital by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,981 shares of the real estate investment trust’s stock valued at $17,506,000 after purchasing an additional 121,137 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE RITM opened at $9.07 on Friday. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s fifty day moving average price is $9.38 and its 200 day moving average price is $10.09. Rithm Capital has a 1 year low of $8.43 and a 1 year high of $12.74. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 8.32 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm 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%. As a group, equities research analysts forecast that Rithm Capital will post 2.27 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Thursday, July 2nd. 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.