Rithm Capital Corp. (NYSE:RITM) Receives $13.43 Average PT from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.61.

RITM has been the subject of a number of analyst reports. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Jones Trading reissued a “buy” rating and set a $12.50 price target on shares of Rithm Capital in a report on Tuesday. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $12.50 to $14.00 in a research note on Monday. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently added to or reduced their stakes in RITM. Bleakley Financial Group LLC boosted its holdings in shares of Rithm Capital by 197.1% in the 1st quarter. Bleakley Financial Group LLC now owns 36,428 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 24,166 shares during the period. MQS Management LLC purchased a new position in Rithm Capital during the first quarter worth $550,000. Left Brain Wealth Management LLC increased its position in Rithm Capital by 20.5% during the first quarter. Left Brain Wealth Management LLC now owns 64,830 shares of the real estate investment trust’s stock valued at $742,000 after acquiring an additional 11,025 shares during the last quarter. Reyes Financial Architecture Inc. raised its stake in shares of Rithm Capital by 52.0% in the first quarter. Reyes Financial Architecture Inc. now owns 7,483 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 2,560 shares during the period. Finally, CWM LLC lifted its holdings in shares of Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,228 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Up 0.0 %

NYSE:RITM opened at $11.19 on Tuesday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 6.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The business has a fifty day moving average price of $11.08 and a 200-day moving average price of $11.09. Rithm Capital has a one year low of $9.13 and a one year high of $12.20.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter last year, the company earned $0.48 earnings per share. Sell-side analysts forecast that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.94%. The ex-dividend date was Monday, March 31st. Rithm Capital’s dividend payout ratio is 83.33%.

About Rithm Capital

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.