B. Riley Analysts Lift Earnings Estimates for Rithm Capital

Rithm Capital Corp. (NYSE:RITM) – Equities research analysts at B. Riley raised their FY2024 EPS estimates for Rithm Capital in a report issued on Monday, December 16th. B. Riley analyst M. Howlett now expects that the real estate investment trust will earn $1.96 per share for the year, up from their prior forecast of $1.88. The consensus estimate for Rithm Capital’s current full-year earnings is $1.93 per share.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data 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 the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the company posted $0.58 earnings per share.

RITM has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.94.

Rithm Capital Trading Down 3.2 %

NYSE RITM opened at $10.70 on Wednesday. Rithm Capital has a 12-month low of $9.97 and a 12-month high of $12.02. The company has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $11.12. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.56 billion, a P/E ratio of 10.81 and a beta of 1.80.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Institutional Investors Weigh In On Rithm Capital

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares during the period. Truvestments Capital LLC purchased a new position in Rithm Capital during the third quarter valued at $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital in the third quarter valued at about $43,000. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital during the third quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Rithm Capital during the 3rd quarter worth about $73,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.