Analysts Set Rithm Capital Corp. (NYSE:RITM) Price Target at $13.20

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.20.

RITM has been the subject of several research reports. JonesTrading restated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research report on Tuesday, April 28th. Citizens Jmp lifted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Compass Point began coverage on shares of Rithm Capital in a research note on Monday, June 8th. They issued a “buy” rating and a $14.00 target price on the stock. UBS Group reduced their target price on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Piper Sandler decreased their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $9.11 on Thursday. The business’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $9.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74. The firm has a market capitalization of $5.08 billion, a P/E ratio of 8.35 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. As a group, analysts anticipate that Rithm Capital will post 2.23 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.0%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital’s dividend payout ratio is 91.74%.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the sale, the director directly owned 44,248 shares in the company, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in shares of Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Rithm Capital in the 4th quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in Rithm Capital in the 4th quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC purchased a new position in Rithm Capital in the 4th quarter valued at approximately $31,000. Finally, Altshuler Shaham Ltd raised its holdings in Rithm Capital by 100.0% during the 1st quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,800 shares during the period. 44.92% of the stock is currently owned by institutional investors.

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.