FY2024 EPS Estimates for Rithm Capital Increased by B. Riley

Rithm Capital Corp. (NYSE:RITM) – Research analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Rithm Capital in a research report issued to clients and investors on Monday, December 16th. B. Riley analyst M. Howlett now anticipates that the real estate investment trust will post earnings per share of $1.96 for the year, up from their prior estimate of $1.88. The consensus estimate for Rithm Capital’s current full-year earnings is $1.93 per share.

Several other research analysts have also recently weighed in on RITM. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.94.

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.67 on Wednesday. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02. The stock has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $11.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $5.55 billion, a P/E ratio of 10.78 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.58 EPS.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.37%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s payout ratio is 101.01%.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in Rithm Capital by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust’s stock valued at $13,467,000 after buying an additional 9,859 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital in the third quarter valued at $43,000. Sanctuary Advisors LLC boosted its stake in shares of Rithm Capital by 19.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 2,988 shares during the period. Neo Ivy Capital Management bought a new position in Rithm Capital during the 3rd quarter valued at about $1,476,000. Finally, Geode Capital Management LLC raised its position in Rithm Capital by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after purchasing an additional 610,698 shares during the period. 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.