Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.78

Rithm Capital Corp. (NYSE:RITM) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.78.

Several research firms have weighed in on RITM. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.20 on Friday. The stock has a fifty day moving average price of $10.82 and a 200 day moving average price of $11.12. The stock has a market cap of $5.82 billion, a PE ratio of 11.31 and a beta of 1.80. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter last year, the business posted $0.58 earnings per share. Sell-side analysts forecast that Rithm Capital will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Institutional Investors Weigh In On Rithm Capital

A number of institutional investors have recently added to or reduced their stakes in RITM. Russell Investments Group Ltd. grew its position in Rithm Capital by 196.3% during the first quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 17,345 shares during the period. Price T Rowe Associates Inc. MD grew its position in Rithm Capital by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock valued at $2,522,000 after acquiring an additional 15,098 shares during the period. Burney Co. purchased a new stake in Rithm Capital during the first quarter valued at about $548,000. Cetera Investment Advisers lifted its stake in shares of Rithm Capital by 460.3% during the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock worth $2,964,000 after purchasing an additional 218,206 shares in the last quarter. Finally, Cetera Advisors LLC lifted its stake in shares of Rithm Capital by 16.3% during the first quarter. Cetera Advisors LLC now owns 200,775 shares of the real estate investment trust’s stock worth $2,241,000 after purchasing an additional 28,212 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

About Rithm Capital

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.