Rithm Capital Corp. (NYSE:RITM) Receives $11.19 Consensus PT from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.19.

RITM has been the topic of a number of analyst reports. JMP Securities lifted their price objective on Rithm Capital from $10.00 to $10.50 and gave the company an “outperform” rating in a report on Friday, July 21st. Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Thursday, August 3rd. Piper Sandler raised their target price on Rithm Capital from $10.00 to $10.50 in a report on Monday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a report on Friday, August 18th. Finally, Raymond James reduced their target price on Rithm Capital from $12.00 to $11.50 in a report on Tuesday, May 23rd.

Rithm Capital Stock Performance

NYSE RITM opened at $10.27 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. Rithm Capital has a 52-week low of $6.86 and a 52-week high of $10.35. The business’s 50-day moving average price is $9.75 and its 200 day moving average price is $8.86. The firm has a market cap of $4.96 billion, a P/E ratio of 7.84 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. Rithm Capital had a return on equity of 14.96% and a net margin of 20.61%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $880.65 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, equities research analysts expect that Rithm Capital will post 1.52 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.74%. The ex-dividend date of this dividend was Friday, June 30th. Rithm Capital’s dividend payout ratio (DPR) is 76.34%.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently modified their holdings of RITM. Virginia Retirement Systems ET AL acquired a new position in shares of Rithm Capital in the second quarter worth $2,260,000. Stansberry Asset Management LLC raised its holdings in shares of Rithm Capital by 6.7% in the second quarter. Stansberry Asset Management LLC now owns 318,365 shares of the real estate investment trust’s stock worth $2,977,000 after acquiring an additional 19,916 shares during the last quarter. Coastal Bridge Advisors LLC grew its holdings in shares of Rithm Capital by 19.8% during the second quarter. Coastal Bridge Advisors LLC now owns 12,777 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,113 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Rithm Capital by 3.2% during the second quarter. Nuveen Asset Management LLC now owns 1,207,555 shares of the real estate investment trust’s stock worth $11,291,000 after buying an additional 37,703 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Rithm Capital during the second quarter worth about $789,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Rithm Capital

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.