Rithm Capital Corp. (NYSE:RITM) Receives Average Recommendation of “Moderate Buy” from Analysts

Rithm Capital Corp. (NYSE:RITM) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.32.

A number of equities research analysts recently commented on RITM shares. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Thursday, May 9th. Piper Sandler raised their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd.

Rithm Capital Trading Up 1.4 %

NYSE:RITM opened at $10.73 on Wednesday. Rithm Capital has a 52 week low of $8.87 and a 52 week high of $11.60. The firm has a 50 day moving average of $11.15 and a 200 day moving average of $10.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 7.15 and a beta of 1.82.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.00 annualized dividend and a yield of 9.32%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Institutional Trading of Rithm Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RITM. Parkside Financial Bank & Trust lifted its holdings in Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares in the last quarter. American National Bank purchased a new position in Rithm Capital during the fourth quarter valued at $27,000. Bessemer Group Inc. purchased a new position in Rithm Capital during the first quarter valued at $30,000. Raleigh Capital Management Inc. lifted its holdings in Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Rithm Capital during the fourth quarter valued at $34,000. Institutional investors and hedge funds 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.