Rithm Capital Corp. to Issue Quarterly Dividend of $0.25 (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Friday, March 21st, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 annualized dividend and a yield of 8.63%.

Rithm Capital has raised its dividend by an average of 3.6% per year over the last three years. Rithm Capital has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Trading Down 2.1 %

Shares of RITM stock traded down $0.25 during mid-day trading on Friday, reaching $11.59. The stock had a trading volume of 9,048,041 shares, compared to its average volume of 3,889,524. The firm has a market capitalization of $6.03 billion, a PE ratio of 6.94 and a beta of 1.83. The stock’s 50-day moving average price is $11.62 and its two-hundred day moving average price is $11.24. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital has a 52-week low of $10.38 and a 52-week high of $12.19.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on RITM shares. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $13.25.

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.