Rithm Capital Corp. (NYSE:RITM) Announces $0.25 Quarterly Dividend

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Thursday, December 18th. Stockholders of record on Wednesday, December 31st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Wednesday, December 31st.

Rithm Capital has decreased its dividend by an average of 0.1%annually over the last three years. Rithm Capital has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.7%

Shares of Rithm Capital stock opened at $11.23 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The business has a 50 day moving average price of $11.06 and a 200 day moving average price of $11.57. The company has a market capitalization of $6.22 billion, a P/E ratio of 7.74 and a beta of 1.22. Rithm Capital has a 1 year low of $9.13 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. Sell-side analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Jones Trading restated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday. Wedbush assumed coverage on Rithm Capital in a research report on Monday. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average target price of $14.25.

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.