Rithm Capital Corp. (NYSE:RITM) Given Average Recommendation of “Buy” by Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have earned an average rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.25.

A number of analysts have recently weighed in on RITM shares. Jones Trading upped their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. UBS Group increased their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Rithm Capital in a research note on Wednesday, October 8th. Finally, BTIG Research reissued a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Wednesday, September 17th.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in RITM. SouthState Corp acquired a new stake in shares of Rithm Capital during the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Rithm Capital during the second quarter valued at approximately $30,000. Mather Group LLC. acquired a new stake in shares of Rithm Capital during the third quarter valued at approximately $33,000. Fourth Dimension Wealth LLC raised its holdings in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Finally, Optimum Investment Advisors raised its holdings in shares of Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Up 0.7%

Shares of NYSE:RITM opened at $10.94 on Tuesday. The company has a 50 day moving average of $11.72 and a 200-day moving average of $11.52. The firm has a market cap of $5.80 billion, a P/E ratio of 8.41 and a beta of 1.31. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.1%. Rithm Capital’s dividend payout ratio is currently 76.92%.

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.