Rithm Capital (NYSE:RITM) Price Target Increased to $12.50 by Analysts at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its price objective upped by Keefe, Bruyette & Woods from $12.00 to $12.50 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on RITM. B. Riley boosted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. JMP Securities reissued a market outperform rating and issued a $11.00 price objective on shares of Rithm Capital in a research report on Thursday, April 18th. Wedbush reiterated an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Jonestrading raised their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Finally, Argus upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $12.05.

Rithm Capital Stock Up 0.6 %

Shares of Rithm Capital stock traded up $0.07 during trading on Thursday, hitting $11.32. 2,856,578 shares of the stock traded hands, compared to its average volume of 2,945,595. The company has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $10.54. Rithm Capital has a twelve month low of $7.59 and a twelve month high of $11.41. The stock has a market cap of $5.48 billion, a P/E ratio of 7.55 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The business had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. During the same quarter last year, the firm earned $0.33 EPS. Equities research analysts predict that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio is 66.67%.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently made changes to their positions in RITM. SG Americas Securities LLC boosted its stake in Rithm Capital by 41.8% in the third quarter. SG Americas Securities LLC now owns 87,500 shares of the real estate investment trust’s stock worth $813,000 after purchasing an additional 25,790 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Rithm Capital during the 3rd quarter worth about $177,000. Simplicity Solutions LLC increased its position in Rithm Capital by 8.0% in the 3rd quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 1,214 shares in the last quarter. Xponance Inc. raised its stake in shares of Rithm Capital by 19.5% in the third quarter. Xponance Inc. now owns 20,112 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 3,286 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Rithm Capital by 18.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 423,207 shares of the real estate investment trust’s stock worth $3,932,000 after purchasing an additional 64,794 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.