Rithm Capital Corp. (NYSE:RITM) Receives $12.78 Consensus PT from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.78.

RITM has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Rithm Capital during the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the third quarter valued at approximately $43,000. Abich Financial Wealth Management LLC grew its holdings in Rithm Capital by 56.8% in 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 buying an additional 1,461 shares in the last quarter. Finally, Godsey & Gibb Inc. bought a new position in Rithm Capital in the 3rd quarter worth approximately $51,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 0.4 %

NYSE:RITM opened at $11.20 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The business’s 50-day simple moving average is $10.82 and its 200 day simple moving average is $11.12. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 11.31 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict that Rithm Capital will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.93%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

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.