Rithm Capital (NYSE:RITM) Reaches New 52-Week Low – Should You Sell?

Rithm Capital Corp. (NYSE:RITM)’s stock price reached a new 52-week low on Friday . The stock traded as low as $10.34 and last traded at $10.59, with a volume of 4247131 shares trading hands. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, Piper Sandler lifted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Price Performance

The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The company’s fifty day moving average price is $11.70 and its 200 day moving average price is $11.23. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 6.24 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.55%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC boosted its position in shares of Rithm Capital by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock valued at $822,000 after purchasing an additional 1,508 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Rithm Capital by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust’s stock worth $1,415,000 after buying an additional 2,015 shares during the last quarter. FMR LLC increased its holdings in shares of Rithm Capital by 0.9% in the third quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock valued at $7,088,000 after buying an additional 5,440 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rithm Capital by 102.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,173,045 shares of the real estate investment trust’s stock valued at $13,314,000 after acquiring an additional 592,209 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Rithm Capital during the third quarter worth $1,827,000. Institutional investors 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.