Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.94

Rithm Capital Corp. (NYSE:RITM) has been given a consensus rating of “Buy” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned 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 a report on the stock in the last year is $12.94.

Several brokerages have recently weighed in on RITM. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th.

Institutional Trading of Rithm Capital

Several large investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC grew its position in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after acquiring an additional 951 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,183 shares in the last quarter. Empowered Funds LLC grew its position in shares of Rithm Capital by 8.3% during the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC grew its position in shares of Rithm Capital by 2.6% during the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 1,286 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Rithm Capital by 10.4% during the fourth quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 1,411 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.1 %

Shares of RITM stock opened at $11.37 on Friday. The firm has a market cap of $5.91 billion, a P/E ratio of 11.48 and a beta of 1.79. Rithm Capital has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm’s 50-day simple moving average is $10.99 and its 200-day simple moving average is $11.11.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The business 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 EPS. As a group, equities analysts forecast that Rithm Capital will post 1.95 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

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.