Rithm Capital Corp. (NYSE:RITM) Receives $12.94 Average Price Target from Analysts

Rithm Capital Corp. (NYSE:RITM) has earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.94.

A number of analysts recently issued reports on RITM shares. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.92 on Wednesday. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.68 billion, a PE ratio of 11.03 and a beta of 1.80. The business has a 50-day simple moving average of $10.86 and a 200-day simple moving average of $11.11.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the company posted $0.58 earnings per share. On average, equities analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s payout ratio is currently 101.01%.

Institutional Trading of Rithm Capital

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares during the period. Azora Capital LP lifted its position in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after buying an additional 978,954 shares during the last quarter. Hedge funds and other institutional investors 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.