Rithm Capital (NYSE:RITM) Hits New 1-Year High at $11.45

Shares of Rithm Capital Corp. (NYSE:RITM) reached a new 52-week high during trading on Monday . The company traded as high as $11.45 and last traded at $11.39, with a volume of 474257 shares. The stock had previously closed at $11.32.

Analysts Set New Price Targets

RITM has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price objective on shares of Rithm Capital in a report on Monday, April 1st. JMP Securities reissued a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. B. Riley raised their price objective 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. Finally, Argus lifted their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $12.05.

Rithm Capital Price Performance

The firm has a 50-day moving average of $10.95 and a 200 day moving average of $10.56. 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 company has a market capitalization of $5.49 billion, a PE ratio of 7.55 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. During the same quarter last year, the company earned $0.33 earnings per share. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jump Financial LLC raised its position in shares of 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 in the last quarter. Lewis Asset Management LLC purchased a new position in Rithm Capital during the 4th quarter worth $2,813,000. Capula Management Ltd purchased a new position in Rithm Capital during the 3rd quarter worth $910,000. Ritholtz Wealth Management purchased a new position in Rithm Capital during the 4th quarter worth $114,000. Finally, Invesco Ltd. grew its stake in Rithm Capital by 67.0% during the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after buying an additional 480,769 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

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.