Rithm Capital Corp. (RITM) To Go Ex-Dividend on December 31st

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date is Tuesday, December 31st.

Rithm Capital has raised its dividend by an average of 26.0% annually over the last three years. Rithm Capital has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $1.92 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 52.1%.

Rithm Capital Stock Performance

NYSE RITM opened at $11.06 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $10.84 and a 200 day simple moving average of $11.13. Rithm Capital has a 12-month low of $9.97 and a 12-month high of $12.02. The company has a market cap of $5.75 billion, a P/E ratio of 11.17 and a beta of 1.80.

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

Analyst Upgrades and Downgrades

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

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.