Rithm Capital’s (RITM) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Rithm Capital (NYSE:RITM) in a report published on Thursday morning, Benzinga reports. They currently have a $11.00 target price on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on RITM. Wedbush reissued an outperform rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. Argus boosted their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, March 5th. B. Riley raised their price target on Rithm Capital from $12.00 to $13.00 and gave the company a buy rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated an outperform rating and issued a $12.00 price objective on shares of Rithm Capital in a report on Monday, April 1st. Finally, Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $12.00.

Rithm Capital Price Performance

NYSE:RITM opened at $10.66 on Thursday. The stock has a market capitalization of $5.16 billion, a PE ratio of 9.69 and a beta of 1.82. Rithm Capital has a 1-year low of $7.59 and a 1-year high of $11.33. The firm has a fifty day simple moving average of $10.81 and a 200 day simple moving average of $10.40. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million during 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 last year, the firm posted $0.33 EPS. On average, research analysts expect that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

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

Institutional Trading of Rithm Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC bought a new position in shares of Rithm Capital during the fourth quarter worth approximately $50,728,000. Norges Bank acquired a new position in Rithm Capital in the 4th quarter valued at $63,896,000. Nan Shan Life Insurance Co. Ltd. acquired a new position in Rithm Capital in the 4th quarter valued at $47,845,000. Morgan Stanley bought a new stake in shares of Rithm Capital during the 4th quarter valued at $38,490,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Rithm Capital in the fourth quarter valued at about $36,301,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.