Rithm Capital (NYSE:RITM) Shares Gap Down to $11.35

Rithm Capital Corp. (NYSE:RITM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.35, but opened at $11.11. Rithm Capital shares last traded at $10.97, with a volume of 795,441 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, JMP Securities raised their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Down 3.6 %

The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 7.32 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $11.48 and a 200-day moving average of $11.22.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.14%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Natixis acquired a new position in Rithm Capital during the 1st quarter worth $689,000. Allianz Asset Management GmbH raised its stake in shares of Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after buying an additional 607,413 shares in the last quarter. Slagle Financial LLC raised its stake in shares of Rithm Capital by 99.1% in the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock worth $5,068,000 after buying an additional 236,199 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after buying an additional 378,931 shares in the last quarter. Finally, Melia Wealth LLC bought a new stake in shares of Rithm Capital in the 1st quarter worth $2,370,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.