Brokerages Set Rithm Capital Corp. (NYSE:RITM) PT at $14.06

Rithm Capital Corp. (NYSE:RITM) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.0625.

Several analysts have recently issued reports on RITM shares. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. BTIG Research reiterated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 10th. UBS Group dropped their target price on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, April 10th. Piper Sandler dropped their target price on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th.

Rithm Capital Stock Down 2.2%

RITM opened at $9.96 on Tuesday. Rithm Capital has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty day moving average of $9.87 and a two-hundred day moving average of $10.71. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 9.57 and a beta of 1.19.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.24 billion. On average, research analysts expect that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be given a $0.25 dividend. The ex-dividend date is Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.0%. Rithm Capital’s dividend payout ratio (DPR) is 96.15%.

Institutional Trading of Rithm Capital

Several institutional investors have recently modified their holdings of RITM. Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at about $77,067,000. Qube Research & Technologies Ltd boosted its position in Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after acquiring an additional 3,524,330 shares during the last quarter. UBS Group AG boosted its position in Rithm Capital by 127.9% during the third quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock worth $42,357,000 after acquiring an additional 2,087,282 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Rithm Capital by 52.1% during the third quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock worth $67,646,000 after acquiring an additional 2,033,973 shares during the last quarter. Finally, Meteora Capital LLC acquired a new position in Rithm Capital during the third quarter worth about $19,441,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.