Rithm Capital Corp. (NYSE:RITM) Receives $14.71 Consensus PT from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.7143.

A number of research analysts have issued reports on RITM shares. Jones Trading reissued a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $15.50 price target on shares of Rithm Capital in a research report on Monday, December 22nd. Finally, Wedbush started coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective for the company.

Insider Buying and Selling

In other news, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Zeiden sold 19,285 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $11.11, for a total value of $214,256.35. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Rithm Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westbourne Investment Advisors Inc. acquired a new position in shares of Rithm Capital during the second quarter valued at approximately $593,000. JPMorgan Chase & Co. increased its position in shares of Rithm Capital by 16.6% during the second quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock worth $15,985,000 after purchasing an additional 201,720 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Rithm Capital by 108.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 188,633 shares of the real estate investment trust’s stock valued at $2,129,000 after purchasing an additional 98,269 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Rithm Capital by 459.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 239,007 shares of the real estate investment trust’s stock valued at $2,722,000 after purchasing an additional 196,265 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Rithm Capital in the 3rd quarter valued at $2,821,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 8.1%

NYSE RITM opened at $10.95 on Thursday. Rithm Capital has a 1 year low of $9.13 and a 1 year high of $12.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $6.07 billion, a PE ratio of 7.55 and a beta of 1.21. The company has a fifty day moving average of $11.33 and a 200 day moving average of $11.56.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. Research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. Rithm Capital’s dividend payout ratio is presently 68.97%.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.