Rithm Capital (NYSE:RITM) Given New $14.00 Price Target at Piper Sandler

Rithm Capital (NYSE:RITM) had its price objective decreased by Piper Sandler from $15.00 to $14.00 in a report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on RITM. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. UBS Group set a $15.00 price target on shares of Rithm Capital in a research note on Friday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Wedbush initiated coverage on shares of Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Finally, Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average price target of $14.36.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $9.63 on Thursday. The company has a fifty day moving average price of $10.17 and a 200 day moving average price of $10.86. The firm has a market cap of $5.35 billion, a PE ratio of 9.25 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital has a 1-year low of $8.43 and a 1-year high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. Research analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. Rithm Capital’s payout ratio is 96.15%.

Institutional Investors Weigh In On Rithm Capital

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Rithm Capital during the fourth quarter worth $77,067,000. Qube Research & Technologies Ltd grew its position in shares of Rithm Capital by 80.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after acquiring an additional 3,524,330 shares during the period. UBS Group AG increased its stake in shares of Rithm Capital by 127.9% during the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock worth $42,357,000 after purchasing an additional 2,087,282 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Rithm Capital by 52.1% during the 3rd 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 purchasing an additional 2,033,973 shares during the last quarter. Finally, Meteora Capital LLC bought a new stake in shares of Rithm Capital in the 3rd quarter valued at 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.