Rithm Capital Corp. (NYSE:RITM) Receives Average Recommendation of “Buy” from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.25.

Several brokerages have recently weighed in on RITM. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler increased their price objective on 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 objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd.

Rithm Capital Stock Up 0.9 %

Shares of NYSE RITM opened at $11.83 on Monday. The firm’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $11.23. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 7.08 and a beta of 1.83. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital has a 12-month low of $10.38 and a 12-month high of $12.20.

Rithm Capital (NYSE:RITM) last released its 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 net margin of 17.79% and a return on equity of 18.15%. On average, research analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Institutional Trading of Rithm Capital

A number of hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in shares of Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after purchasing an additional 951 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after acquiring an additional 960 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Rithm Capital by 2.0% in the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 967 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 1,016 shares during the period. Finally, Vident Advisory LLC lifted its stake in shares of Rithm Capital by 7.3% in the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 1,051 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

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.