FY2024 EPS Estimates for Rithm Capital Boosted by B. Riley

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

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

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $11.06 on Wednesday. The firm has a market cap of $5.75 billion, a PE ratio of 11.17 and a beta of 1.80. The company’s fifty day simple moving average is $10.84 and its two-hundred day simple moving average is $11.13. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12-month low of $9.97 and a 12-month high of $12.02.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.58 EPS.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of Rithm Capital by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust’s stock valued at $13,467,000 after buying an additional 9,859 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital during the third quarter valued at $43,000. Sanctuary Advisors LLC lifted its holdings in Rithm Capital by 19.3% in the third quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 2,988 shares during the period. Neo Ivy Capital Management purchased a new position in Rithm Capital in the third quarter worth about $1,476,000. Finally, Geode Capital Management LLC grew its stake in shares of Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the period. 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.