Rithm Capital Corp. (NYSE:RITM) Given Average Recommendation of “Buy” by Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.00.

Several equities analysts have commented on RITM shares. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley lifted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Argus lifted their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jonestrading lifted their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC increased its stake in Rithm Capital by 668.7% in the 3rd quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 187,460 shares during the last quarter. Lewis Asset Management LLC purchased a new position in shares of Rithm Capital in the 4th quarter worth about $2,813,000. Capula Management Ltd purchased a new position in shares of Rithm Capital in the 3rd quarter worth about $910,000. Ritholtz Wealth Management purchased a new position in shares of Rithm Capital in the 4th quarter worth about $114,000. Finally, Invesco Ltd. boosted its holdings in shares of Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of RITM opened at $11.09 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50-day moving average of $10.83 and a 200-day moving average of $10.44. The company has a market cap of $5.37 billion, a PE ratio of 10.07 and a beta of 1.82. Rithm Capital has a one year low of $7.59 and a one year high of $11.33.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The business had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities research analysts predict that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 9.02%. Rithm Capital’s dividend payout ratio is currently 90.91%.

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.