Rithm Capital Corp. (RITM) to Issue Quarterly Dividend of $0.25 on July 26th

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Monday, July 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, July 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.17%. The ex-dividend date of this dividend is Monday, July 1st.

Rithm Capital has raised its dividend payment by an average of 26.0% per year over the last three years. Rithm Capital has a dividend payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 53.8%.

Rithm Capital Trading Up 1.0 %

Shares of RITM opened at $10.91 on Friday. The business’s 50-day moving average price is $11.16 and its 200 day moving average price is $10.91. The stock has a market capitalization of $5.27 billion, a P/E ratio of 7.27 and a beta of 1.80. Rithm Capital has a 1-year low of $8.87 and a 1-year high of $11.60. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, May 9th. Argus boosted their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have issued 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 price target of $12.32.

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.