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

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.00.

Several research firms have recently weighed in on RITM. Jonestrading raised their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday. Argus raised their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its holdings in Rithm Capital by 605.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares during the last quarter. American National Bank acquired a new position in shares of Rithm Capital during the 4th quarter worth about $27,000. Raleigh Capital Management Inc. increased its stake in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Rithm Capital in the 4th quarter valued at approximately $34,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Rithm Capital in the 4th quarter valued at approximately $34,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.66 on Friday. The firm has a market capitalization of $5.16 billion, a P/E ratio of 9.69 and a beta of 1.82. The stock has a fifty day moving average price of $10.81 and a two-hundred day moving average price of $10.40. Rithm Capital has a 52-week low of $7.59 and a 52-week high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter last year, the company posted $0.33 EPS. As a group, analysts anticipate that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is 90.91%.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.