Brokerages Set Rithm Capital Corp. (NYSE:RITM) PT at $14.44

Rithm Capital Corp. (NYSE:RITM) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.4375.

RITM has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Wedbush assumed coverage on shares of Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Piper Sandler reiterated an “overweight” rating and set a $15.50 target price on shares of Rithm Capital in a research report on Monday, December 22nd. Finally, BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th.

Insider Transactions at Rithm Capital

In other news, insider David Zeiden sold 19,285 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. The SEC filing for this sale provides additional information. 0.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new position in Rithm Capital during the second quarter worth about $96,027,000. Norges Bank bought a new stake in shares of Rithm Capital in the second quarter worth about $72,762,000. Qube Research & Technologies Ltd increased its holdings in shares of Rithm Capital by 80.7% in the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after acquiring an additional 3,524,330 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Rithm Capital during the second quarter worth about $24,938,000. Finally, UBS Group AG lifted its holdings in shares of Rithm Capital by 127.9% during the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after purchasing an additional 2,087,282 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.5%

Shares of RITM opened at $11.56 on Friday. The stock’s fifty day simple moving average is $11.15 and its 200-day simple moving average is $11.56. The firm has a market capitalization of $6.41 billion, a PE ratio of 7.97 and a beta of 1.21. Rithm Capital has a 12-month low of $9.13 and a 12-month high of $12.74. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. As a group, research analysts predict that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.6%. Rithm Capital’s dividend payout ratio is presently 68.97%.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.