Raymond James Cuts Rithm Capital (NYSE:RITM) Price Target to $11.50

Rithm Capital (NYSE:RITM – Get Rating) had its price target trimmed by Raymond James from $12.00 to $11.50 in a research note released on Tuesday, The Fly reports.

Separately, JMP Securities cut their price objective on shares of Rithm Capital from $11.00 to $9.00 and set an outperform rating on the stock in a research report on Friday, April 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $10.42.

Rithm Capital Stock Performance

Shares of RITM stock opened at $7.93 on Tuesday. Rithm Capital has a one year low of $6.86 and a one year high of $11.52. The stock has a market cap of $3.83 billion, a PE ratio of 14.16 and a beta of 1.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50-day moving average of $7.93 and a 200-day moving average of $8.55.

Rithm Capital (NYSE:RITM – Get Rating) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $783.42 million during the quarter, compared to analysts’ expectations of $807.88 million. Rithm Capital had a return on equity of 12.41% and a net margin of 9.52%. During the same period in the prior year, the business earned $0.37 EPS. As a group, sell-side analysts expect that Rithm Capital will post 1.4 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.61%. The ex-dividend date of this dividend was Thursday, March 30th. Rithm Capital’s payout ratio is presently 178.57%.

Institutional Trading of Rithm Capital

A number of hedge funds and other institutional investors have recently modified their holdings of RITM. Putnam Investments LLC increased its stake in shares of Rithm Capital by 68.2% in the first quarter. Putnam Investments LLC now owns 1,035,109 shares of the real estate investment trust’s stock valued at $8,281,000 after buying an additional 419,845 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Rithm Capital by 97.4% in the first quarter. Ameriprise Financial Inc. now owns 408,146 shares of the real estate investment trust’s stock worth $3,260,000 after purchasing an additional 201,389 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rithm Capital by 72.6% in the first quarter. JPMorgan Chase & Co. now owns 1,567,824 shares of the real estate investment trust’s stock worth $12,543,000 after purchasing an additional 659,560 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Rithm Capital in the first quarter worth $3,636,000. Finally, Advisory Services Network LLC grew its stake in shares of Rithm Capital by 55.5% in the first quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,760 shares during the last quarter. Institutional investors own 47.30% of the company’s stock.

About Rithm Capital

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Rithm Capital Corp. is a real estate investment trust, which aims to generate long-term value for investors by investing in mortgage related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate.