Rithm Capital’s (RITM) “Buy” Rating Reiterated at Jones Trading

Jones Trading restated their buy rating on shares of Rithm Capital (NYSE:RITM) in a report published on Tuesday morning,Benzinga reports. Jones Trading currently has a $12.50 price target on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. UBS Group reduced their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, BTIG Research reiterated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $13.61.

Rithm Capital Trading Up 0.0 %

Shares of NYSE:RITM opened at $11.19 on Tuesday. The company’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $11.09. Rithm Capital has a one year low of $9.13 and a one year high of $12.20. 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 stock has a market capitalization of $5.93 billion, a PE ratio of 6.70 and a beta of 1.36.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The firm had revenue of $28.89 million during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, equities analysts forecast that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a $0.25 dividend. 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 payout ratio is presently 83.33%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after purchasing an additional 184,802 shares during the last quarter. Geode Capital Management LLC grew its position in Rithm Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust’s stock valued at $92,021,000 after acquiring an additional 79,142 shares during the last quarter. Norges Bank acquired a new position in Rithm Capital during the fourth quarter worth about $76,082,000. Balyasny Asset Management L.P. lifted its holdings in shares of Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock worth $70,780,000 after acquiring an additional 2,136,342 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.