JMP Securities Raises Rithm Capital (NYSE:RITM) Price Target to $12.50

Rithm Capital (NYSE:RITM) had its price objective increased by JMP Securities from $11.00 to $12.50 in a report issued on Friday morning, Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on RITM. Piper Sandler upped their target price on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a neutral rating in a research report on Tuesday, May 14th. B. Riley restated a buy rating and set a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Wedbush restated an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, May 9th. Royal Bank of Canada restated an outperform rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an outperform rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $12.45.

Rithm Capital Trading Up 0.4 %

Shares of Rithm Capital stock opened at $11.62 on Friday. Rithm Capital has a 52-week low of $8.87 and a 52-week high of $11.79. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $11.10 and its 200-day simple moving average is $10.93. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 7.75 and a beta of 1.82.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.61%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

Hedge Funds Weigh In On Rithm Capital

Large investors have recently bought and sold shares of the stock. Foster Victor Wealth Advisors LLC purchased a new position in shares of Rithm Capital in the 2nd quarter valued at $645,000. Redhawk Wealth Advisors Inc. grew its holdings in Rithm Capital by 10.5% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 63,131 shares of the real estate investment trust’s stock valued at $689,000 after purchasing an additional 6,014 shares in the last quarter. Wedmont Private Capital grew its holdings in Rithm Capital by 13.8% during the 2nd quarter. Wedmont Private Capital now owns 22,512 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 2,732 shares in the last quarter. HFG Advisors Inc. acquired a new position in Rithm Capital during the 2nd quarter worth $109,000. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Rithm Capital by 28.3% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 15,282 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 3,367 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.