Rithm Capital (NYSE:RITM) Shares Gap Down to $10.91

Rithm Capital Corp. (NYSE:RITM) shares gapped down prior to trading on Monday . The stock had previously closed at $10.91, but opened at $10.68. Rithm Capital shares last traded at $10.69, with a volume of 324,436 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Piper Sandler increased their target price on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, May 9th. B. Riley reaffirmed a “buy” rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Finally, Argus increased their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.32.

Rithm Capital Stock Up 1.4 %

The company has a fifty day moving average of $11.15 and a 200 day moving average of $10.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.19 billion, a P/E ratio of 7.15 and a beta of 1.82.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.32%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Rithm Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RITM. Parkside Financial Bank & Trust lifted its position in Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares in the last quarter. American National Bank bought a new position in shares of Rithm Capital during the 4th quarter valued at approximately $27,000. Bessemer Group Inc. purchased a new stake in Rithm Capital in the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its stake in Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,661 shares during the period. Finally, GAMMA Investing LLC bought a new position in shares of Rithm Capital in the fourth quarter worth approximately $34,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.