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

Rithm Capital Corp. (NYSE:RITM) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.25.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Rithm Capital in a research report on Thursday. Royal Bank Of Canada boosted their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Wednesday, August 6th. UBS Group lifted their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th.

Insiders Place Their Bets

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC raised its stake in Rithm Capital by 103.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 503,931 shares of the real estate investment trust’s stock worth $5,740,000 after acquiring an additional 256,624 shares during the period. Creative Planning raised its position in shares of Rithm Capital by 88.6% during the third quarter. Creative Planning now owns 166,994 shares of the real estate investment trust’s stock valued at $1,902,000 after buying an additional 78,453 shares during the last quarter. Alden Global Capital LLC increased its holdings in Rithm Capital by 28.3% in the 3rd quarter. Alden Global Capital LLC now owns 370,076 shares of the real estate investment trust’s stock valued at $4,215,000 after acquiring an additional 81,700 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Rithm Capital during the 3rd quarter valued at about $448,000. Finally, Zacks Investment Management raised its stake in Rithm Capital by 4.5% during the third quarter. Zacks Investment Management now owns 341,420 shares of the real estate investment trust’s stock valued at $3,889,000 after purchasing an additional 14,687 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.12 on Friday. The company has a 50 day moving average of $11.34 and a 200 day moving average of $11.59. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. Rithm Capital has a 12 month low of $9.13 and a 12 month high of $12.74. The stock has a market cap of $6.16 billion, a P/E ratio of 7.67 and a beta of 1.30.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. As a group, sell-side analysts forecast that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s payout ratio is 68.97%.

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.