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

Rithm Capital Corp. (NYSE:RITM) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.56.

A number of equities research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Monday, May 19th. Jones Trading reissued a “buy” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Tuesday, April 29th. 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, May 20th. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Finally, Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and increased their target price for the company from $12.50 to $14.00 in a report on Monday, April 28th.

Rithm Capital Trading Down 1.6%

NYSE RITM opened at $11.11 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. The stock’s 50-day simple moving average is $10.99 and its two-hundred day simple moving average is $11.22. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.20. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 9.25 and a beta of 1.26.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data 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. The firm had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same period in the prior year, the company earned $0.48 EPS. Research analysts forecast that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.25 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.00%. Rithm Capital’s payout ratio is presently 83.33%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in shares of Rithm Capital by 1.2% in the 4th quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust’s stock worth $2,379,000 after acquiring an additional 2,701 shares in the last quarter. Wedbush Securities Inc. grew its stake in Rithm Capital by 13.7% in the fourth quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock worth $2,509,000 after purchasing an additional 27,924 shares during the period. Bank of New York Mellon Corp raised its holdings in Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after purchasing an additional 159,506 shares in the last quarter. Vanguard Group Inc. lifted its position in Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after buying an additional 184,802 shares during the period. Finally, Simplify Asset Management Inc. boosted its holdings in shares of Rithm Capital by 30.4% during the 4th quarter. Simplify Asset Management Inc. now owns 175,780 shares of the real estate investment trust’s stock valued at $1,904,000 after buying an additional 40,980 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

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.