Rithm Capital Corp. (RITM) to Distribute Quarterly Dividend of $0.25 on April 30th

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Friday, March 21st, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.63%.

Rithm Capital has raised its dividend by an average of 3.6% annually over the last three years. Rithm Capital has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.59 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company’s fifty day moving average price is $11.64 and its two-hundred day moving average price is $11.23. The firm has a market capitalization of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83. Rithm Capital has a 12 month low of $10.38 and a 12 month high of $12.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 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%. On average, research analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RITM shares. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.25.

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.