Rithm Capital (NYSE:RITM) Stock Gets Price Target Cut from BTIG Research

Rithm Capital (NYSE:RITM) had its price objective reduced by BTIG Research from $13.00 to $12.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other analysts have also recently commented on RITM. UBS Group reduced their price objective on Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Piper Sandler dropped their target price on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.05.

Rithm Capital Price Performance

NYSE RITM opened at $8.35 on Monday. The business’s fifty day moving average price is $9.61 and its 200-day moving average price is $9.52. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 3.56, a PEG ratio of 0.54 and a beta of 1.16. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.58 and a quick ratio of 0.58. Rithm Capital has a 1-year low of $8.31 and a 1-year high of $12.15.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. On average, equities analysts predict that Rithm Capital will post 2.25 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 1st will be given a $0.25 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.00 annualized dividend and a yield of 12.0%. Rithm Capital’s dividend payout ratio (DPR) is presently 166.67%.

Insider Buying and Selling at Rithm Capital

In other news, Director Peggy Hebard sold 14,520 shares of Rithm Capital stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total transaction of $147,813.60. Following the transaction, the director owned 82,259 shares in the company, valued at $837,396.62. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. bought a new stake in Rithm Capital during the third quarter valued at about $29,000. Altshuler Shaham Ltd increased its position in Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,800 shares in the last quarter. Bogart Wealth LLC increased its position in Rithm Capital by 108.5% in the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,144 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Rithm Capital in the first quarter worth about $41,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Rithm Capital in the second quarter worth about $42,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Company Profile

Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.

Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.

The company was formerly known as New Residential Investment Corp.