Rithm Capital (NYSE:RITM) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Rithm Capital (NYSE:RITM) in a report released on Friday, MarketBeat.com reports. Wedbush currently has a $13.00 price target on the real estate investment trust’s stock. Wedbush also issued estimates for Rithm Capital’s FY2025 earnings at $1.85 EPS.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an outperform rating in a research note on Thursday, May 2nd. B. Riley reiterated a buy rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Piper Sandler increased their target price on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a neutral rating in a research note on Tuesday, May 14th. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a market outperform rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $12.55.

Rithm Capital Stock Up 0.6 %

RITM opened at $11.51 on Friday. The company has a 50 day moving average of $11.13 and a 200 day moving average of $11.01. The company has a market cap of $5.56 billion, a PE ratio of 7.67 and a beta of 1.82. Rithm Capital has a 12 month low of $8.87 and a 12 month high of $11.85. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.20%. Rithm Capital’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. On average, sell-side analysts expect that Rithm Capital will post 1.78 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.69%. The ex-dividend date was Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis bought a new position in shares of Rithm Capital during the 1st quarter valued at $689,000. Allianz Asset Management GmbH grew its holdings in shares of Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after purchasing an additional 607,413 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Rithm Capital by 14.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 2,614 shares during the last quarter. Slagle Financial LLC grew its holdings in shares of Rithm Capital by 99.1% during the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after purchasing an additional 236,199 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. Hedge funds and other institutional investors 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.