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

Rithm Capital Corp. (NYSE:RITM) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $12.00.

A number of equities research analysts have weighed in on RITM shares. B. Riley raised their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. 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. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. Jonestrading increased their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Argus lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

Institutional Investors Weigh In On Rithm Capital

A number of large investors have recently made changes to their positions in RITM. Parkside Financial Bank & Trust grew its position in Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,136 shares in the last quarter. American National Bank purchased a new position in shares of Rithm Capital during the fourth quarter valued at $27,000. Raleigh Capital Management Inc. grew its holdings in shares of Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,661 shares in the last quarter. GAMMA Investing LLC acquired a new position in Rithm Capital during the fourth quarter valued at $34,000. Finally, Lazard Asset Management LLC purchased a new stake in Rithm Capital in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.3 %

RITM opened at $10.66 on Friday. The firm’s 50 day moving average is $10.81 and its 200-day moving average is $10.40. Rithm Capital has a 52-week low of $7.59 and a 52-week high of $11.33. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.16 billion, a P/E ratio of 9.69 and a beta of 1.82.

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 (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same quarter in the previous year, the firm posted $0.33 EPS. Analysts expect that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.39%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s payout ratio is 90.91%.

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.