Rithm Capital Corp. (NYSE:RITM) Given Average Recommendation of “Buy” by Analysts

Rithm Capital Corp. (NYSE:RITM) has been assigned an average rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.25.

Several equities research analysts have recently issued reports on the company. Jones Trading raised their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Rithm Capital in a research note on Saturday. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, Royal Bank Of Canada increased their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st.

Institutional Trading of Rithm Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. SouthState Corp acquired a new position in Rithm Capital in the first quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Rithm Capital in the 2nd quarter valued at about $30,000. Mather Group LLC. purchased a new stake in shares of Rithm Capital during the 3rd quarter worth about $33,000. Fourth Dimension Wealth LLC increased its position in Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Optimum Investment Advisors raised its holdings in Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 2,000 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.87 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $5.76 billion, a PE ratio of 8.36 and a beta of 1.31. The firm has a 50 day simple moving average of $11.74 and a 200-day simple moving average of $11.51. Rithm Capital has a 1-year low of $9.13 and a 1-year high of $12.74.

Rithm Capital (NYSE:RITM) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. On average, equities analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.

Rithm Capital Company Profile

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.