Rithm Capital (NYSE:RITM) Trading Up 3% – Here’s Why

Rithm Capital Corp. (NYSE:RITM) rose 3% during mid-day trading on Monday . The company traded as high as $11.40 and last traded at $11.48. Approximately 1,028,494 shares were traded during trading, a decline of 71% from the average daily volume of 3,557,446 shares. The stock had previously closed at $11.14.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RITM shares. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Stock Performance

The firm has a market capitalization of $5.95 billion, a P/E ratio of 6.85 and a beta of 1.83. 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 stock’s 50 day moving average is $11.69 and its two-hundred day moving average is $11.23.

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

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.75%. Rithm Capital’s payout ratio is currently 59.88%.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Rithm Capital in the 3rd quarter valued at $43,000. Quarry LP boosted its holdings in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its stake in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Rithm Capital in the fourth quarter worth $81,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.