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

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

RITM has been the subject of several analyst reports. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Friday, March 28th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd.

Rithm Capital Trading Down 2.1 %

RITM opened at $9.82 on Friday. Rithm Capital has a twelve month low of $9.63 and a twelve month high of $12.20. The company has a fifty day moving average of $11.59 and a 200-day moving average of $11.17. The stock has a market cap of $5.11 billion, a PE ratio of 5.88 and a beta of 1.36. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.19%. The ex-dividend date is Monday, March 31st. Rithm Capital’s payout ratio is 59.88%.

Institutional Trading of Rithm Capital

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Rithm Capital during the third quarter valued at about $1,476,000. Bank of New York Mellon Corp increased its holdings in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after buying an additional 159,506 shares during the period. EMC Capital Management lifted its stake in shares of Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after acquiring an additional 32,930 shares during the last quarter. Finally, Meridian Financial Partners LLC purchased a new stake in Rithm Capital during the 4th quarter valued at about $898,000. 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.