Rithm Capital (NYSE:RITM) Price Target Raised to $12.50

Rithm Capital (NYSE:RITM) had its target price upped by Piper Sandler from $11.50 to $12.50 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

RITM has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.94.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.84 on Friday. Rithm Capital has a twelve month low of $10.06 and a twelve month high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $11.15 and a 200 day simple moving average of $11.14. The company has a market cap of $6.15 billion, a P/E ratio of 7.09 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. On average, sell-side analysts forecast that Rithm Capital will post 1.92 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its position in Rithm Capital by 19.6% in the 4th quarter. Larson Financial Group LLC now owns 174,762 shares of the real estate investment trust’s stock valued at $1,893,000 after buying an additional 28,650 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $7,572,000. Arizona State Retirement System raised its position in shares of Rithm Capital by 8.3% during the fourth quarter. Arizona State Retirement System now owns 150,834 shares of the real estate investment trust’s stock worth $1,634,000 after purchasing an additional 11,620 shares during the period. Aigen Investment Management LP bought a new position in shares of Rithm Capital in the 4th quarter worth $271,000. Finally, Proficio Capital Partners LLC acquired a new stake in Rithm Capital in the 4th quarter valued at $176,000. 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.