Analysts Set Rithm Capital Corp. (NYSE:RITM) Price Target at $13.25

Rithm Capital Corp. (NYSE:RITM) has earned a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.25.

Several analysts recently weighed in on the stock. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reissued a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently made changes to their positions in the stock. Quent Capital LLC increased its position in Rithm Capital by 58.6% in the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 2,019 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Rithm Capital in the first quarter valued at approximately $98,000. Wellington Management Group LLP increased its holdings in shares of Rithm Capital by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust’s stock valued at $38,993,000 after acquiring an additional 32,544 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Rithm Capital by 5.3% during the fourth quarter. California State Teachers Retirement System now owns 486,434 shares of the real estate investment trust’s stock worth $5,268,000 after purchasing an additional 24,542 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rithm Capital by 830.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 168,999 shares of the real estate investment trust’s stock worth $1,830,000 after purchasing an additional 150,832 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Down 7.2 %

NYSE RITM opened at $10.44 on Friday. Rithm Capital has a twelve month low of $10.28 and a twelve month high of $12.20. The business’s fifty day moving average is $11.68 and its 200 day moving average is $11.21. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 6.25 and a beta of 1.36.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, sell-side analysts expect that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.58%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

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.