Rithm Capital (NYSE:RITM) Shares Gap Down to $10.91

Shares of Rithm Capital Corp. (NYSE:RITM) gapped down before the market opened on Monday . The stock had previously closed at $10.91, but opened at $10.68. Rithm Capital shares last traded at $10.69, with a volume of 324,436 shares traded.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. Piper Sandler upped their target price 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 restated an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a research report on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, May 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.32.

Rithm Capital Stock Up 1.4 %

The stock’s 50-day moving average price is $11.15 and its 200-day moving average price is $10.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 7.15 and a beta of 1.82.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date is Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is 66.67%.

Hedge Funds Weigh In On Rithm Capital

A number of hedge funds have recently added to or reduced their stakes in RITM. Bright Futures Wealth Management LLC. bought a new position in shares of Rithm Capital in the first quarter valued at approximately $208,000. Abich Financial Wealth Management LLC boosted its holdings in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,461 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Rithm Capital by 16.3% in the 1st quarter. Cetera Advisors LLC now owns 200,775 shares of the real estate investment trust’s stock worth $2,241,000 after acquiring an additional 28,212 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Rithm Capital by 460.3% during the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock valued at $2,964,000 after purchasing an additional 218,206 shares in the last quarter. Finally, Burney Co. purchased a new stake in Rithm Capital in the 1st quarter valued at about $548,000. Institutional investors and hedge funds 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.