Rithm Capital Corp. (NYSE:RITM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.94.

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st.

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.83 on Wednesday. Rithm Capital has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 10.94 and a beta of 1.80. The stock has a fifty day moving average of $10.88 and a two-hundred day moving average of $11.10. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.58 EPS. On average, analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.23%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

Institutional Trading of Rithm Capital

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Azora Capital LP lifted its holdings in shares of Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after acquiring an additional 2,271,671 shares in the last quarter. Soros Fund Management LLC purchased a new stake in Rithm Capital during the 3rd quarter worth $23,835,000. Seven Grand Managers LLC acquired a new stake in Rithm Capital in the 3rd quarter valued at $11,918,000. Finally, Maven Securities LTD purchased a new position in Rithm Capital in the third quarter valued at about $11,350,000. Hedge funds and other 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.