Analysts Set Rithm Capital Corp. (NYSE:RITM) Price Target at $13.56

Rithm Capital Corp. (NYSE:RITM) has earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat 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 target price among brokers that have updated their coverage on the stock in the last year is $13.69.

RITM has been the subject of a number of research reports. Piper Sandler raised shares of Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. 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. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. UBS Group reissued a “buy” rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research note on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Monday, May 19th.

Institutional Investors Weigh In On Rithm Capital

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

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $11.71 on Friday. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 9.75 and a beta of 1.25. The company has a 50-day moving average price of $11.39 and a 200-day moving average price of $11.28. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. Rithm Capital has a 12 month low of $9.13 and a 12 month high of $12.20.

Rithm Capital (NYSE:RITM) last issued 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 during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts anticipate that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date is Monday, June 30th. Rithm Capital’s dividend payout ratio (DPR) is presently 83.33%.

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.