Rithm Capital Corp. (NYSE:RITM) Receives $13.25 Consensus PT from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.25.

Several research firms recently issued reports on RITM. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Piper Sandler increased their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th.

Rithm Capital Trading Up 2.1 %

Shares of Rithm Capital stock opened at $11.66 on Monday. Rithm Capital has a 12-month low of $10.38 and a 12-month high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $11.55 and its 200-day moving average is $11.24. The stock has a market cap of $6.07 billion, a P/E ratio of 6.98 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.58%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RITM. SeaCrest Wealth Management LLC grew its position in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after acquiring an additional 951 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 960 shares during the last quarter. Summit Trail Advisors LLC boosted its position in Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 967 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Rithm Capital by 2.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 1,016 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Rithm Capital by 7.3% in the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,051 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.