Rithm Capital Corp. (NYSE:RITM) Given Average Rating of “Moderate Buy” by Brokerages

Rithm Capital Corp. (NYSE:RITM) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.78.

Several brokerages recently commented on RITM. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its holdings in shares of Rithm Capital by 0.8% during the third quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust’s stock worth $13,467,000 after purchasing an additional 9,859 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital during the 3rd quarter worth $43,000. Sanctuary Advisors LLC lifted its stake in shares of Rithm Capital by 19.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 2,988 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Rithm Capital in the third quarter valued at about $1,476,000. Finally, Geode Capital Management LLC increased its stake in shares of Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after acquiring an additional 610,698 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 0.6 %

RITM opened at $11.25 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The company has a market cap of $5.85 billion, a P/E ratio of 11.36 and a beta of 1.80. The business’s 50-day simple moving average is $10.83 and its 200-day simple moving average is $11.13.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, equities research analysts expect that Rithm Capital will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.