Rithm Capital (NYSE:RITM) Share Price Passes Below 200 Day Moving Average – Here’s Why

Rithm Capital Corp. (NYSE:RITM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.54 and traded as low as $9.12. Rithm Capital shares last traded at $9.1450, with a volume of 5,574,776 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on RITM. JonesTrading reaffirmed a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Rithm Capital from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group reduced their price objective on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Royal Bank Of Canada reduced their price objective on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

Rithm Capital Stock Up 0.2%

The business has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $10.54. The stock has a market capitalization of $5.11 billion, a P/E ratio of 8.39 and a beta of 1.17. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Equities research analysts forecast that Rithm Capital Corp. will post 2.27 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date was Monday, April 6th. Rithm Capital’s dividend payout ratio is 91.74%.

Institutional Trading of Rithm Capital

Large investors have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its holdings in shares of Rithm Capital by 99.2% during the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,143 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $26,000. Bessemer Group Inc. grew its holdings in shares of Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital during the third quarter worth $31,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $31,000. 44.92% of the stock is currently owned by institutional investors.

About Rithm Capital

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.