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

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 annualized dividend and a yield of 8.94%.

Rithm Capital has raised its dividend payment by an average of 26.0% annually over the last three years. Rithm Capital has a dividend payout ratio of 51.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $1.89 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 52.9%.

Rithm Capital Stock Performance

Shares of NYSE RITM traded up $0.07 during mid-day trading on Monday, reaching $11.19. 2,741,224 shares of the company’s stock were exchanged, compared to its average volume of 3,499,762. The firm has a 50-day moving average price of $10.84 and a two-hundred day moving average price of $11.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 11.30 and a beta of 1.80. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Analysts predict that Rithm Capital will post 1.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RITM. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.94.

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.