Royal Bank of Canada Reiterates “Outperform” Rating for Rithm Capital (NYSE:RITM)

Royal Bank of Canada restated their outperform rating on shares of Rithm Capital (NYSE:RITM) in a report issued on Thursday,Benzinga reports. They currently have a $13.00 target price on the real estate investment trust’s stock.

Separately, Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Stock Performance

Shares of RITM opened at $10.98 on Thursday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 11.09 and a beta of 1.80. 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 business’s 50 day moving average is $10.90 and its two-hundred day moving average is $11.13. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations 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 company posted $0.58 earnings per share. Analysts forecast that Rithm Capital will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Institutional Trading of Rithm Capital

Several hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Rithm Capital by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares during the last quarter. Empowered Funds LLC raised its holdings 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 valued at $176,000 after buying an additional 1,216 shares during the last quarter. Founders Financial Alliance LLC boosted 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 during the period. Abich Financial Wealth Management LLC boosted its position in shares of Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,461 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 1,481 shares in the last quarter. 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.