Rithm Capital (NYSE:RITM) Reaches New 12-Month Low – Here’s Why

Rithm Capital Corp. (NYSE:RITM) shares reached a new 52-week low on Friday . The company traded as low as $10.34 and last traded at $10.59, with a volume of 4247131 shares traded. The stock had previously closed at $11.25.

Analysts Set New Price Targets

A number of analysts have commented on the stock. 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 report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Performance

The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.43 billion, a PE ratio of 6.25 and a beta of 1.83. The firm’s fifty day moving average is $11.68 and its 200-day moving average is $11.22.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.58%. Rithm Capital’s dividend payout ratio is presently 59.88%.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital in the third quarter valued at approximately $43,000. Quarry LP grew its stake 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 worth $45,000 after acquiring an additional 1,327 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Rithm Capital by 35.2% during the fourth 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 during the period. Finally, Quent Capital LLC raised its stake in shares of Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 2,019 shares in the last quarter. 44.92% of the stock is 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.