Rithm Capital Corp. (NYSE:RITM) Receives $12.00 Average Target Price from Analysts

Rithm Capital Corp. (NYSE:RITM) has received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

A number of research analysts recently commented on RITM shares. Argus upped their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Jonestrading upped their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.09 on Friday. Rithm Capital has a twelve month low of $7.59 and a twelve month high of $11.33. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 10.07 and a beta of 1.82. The business has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $10.44.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. The firm had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period in the prior year, the business earned $0.33 EPS. As a group, equities research analysts expect that Rithm Capital will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s payout ratio is 90.91%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Jump Financial LLC raised its stake in shares of Rithm Capital by 668.7% during the 3rd quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after purchasing an additional 187,460 shares in the last quarter. Lewis Asset Management LLC acquired a new position in shares of Rithm Capital during the 4th quarter valued at about $2,813,000. Capula Management Ltd acquired a new position in shares of Rithm Capital during the 3rd quarter valued at about $910,000. Ritholtz Wealth Management acquired a new position in shares of Rithm Capital during the 4th quarter valued at about $114,000. Finally, Invesco Ltd. grew its holdings in Rithm Capital by 67.0% in the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after buying an additional 480,769 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

About Rithm Capital

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.