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

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average rating of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $13.56.

A number of research firms have recently weighed in on RITM. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group cut their price target on Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Monday, May 19th. Jones Trading reissued a “buy” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors have recently modified their holdings of RITM. SouthState Corp bought a new position in Rithm Capital in the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC grew its position in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Quarry LP raised its holdings in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,327 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,211 shares during the period. Finally, SVB Wealth LLC bought a new position in Rithm Capital during the 1st quarter worth about $57,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.13 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.90 billion, a PE ratio of 6.67 and a beta of 1.32. The firm’s 50 day moving average price is $10.96 and its 200-day moving average price is $11.17. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.20.

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

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.98%. Rithm Capital’s dividend payout ratio (DPR) 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.