Rithm Capital (NYSE:RITM) Hits New 12-Month High at $11.95

Rithm Capital Corp. (NYSE:RITM) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.95 and last traded at $11.90, with a volume of 2007605 shares traded. The stock had previously closed at $11.77.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities increased their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Up 1.2 %

The stock has a market cap of $5.76 billion, a P/E ratio of 7.94 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock’s 50-day moving average is $11.39 and its 200-day moving average is $11.16.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.82 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, July 26th. Investors of record on Monday, July 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.40%. The ex-dividend date was Monday, July 1st. Rithm Capital’s dividend payout ratio is presently 66.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RITM. Natixis bought a new stake in shares of Rithm Capital during the 1st quarter worth $689,000. Allianz Asset Management GmbH increased its stake in Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Rithm Capital by 14.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 2,614 shares during the period. Slagle Financial LLC lifted its position in shares of Rithm Capital by 99.1% in the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after acquiring an additional 236,199 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. Institutional investors and hedge funds 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.