Rithm Capital Corp. (NYSE:RITM) Receives $12.94 Average PT from Analysts

Rithm Capital Corp. (NYSE:RITM) has earned an average rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $12.94.

A number of research analysts have recently weighed in on RITM shares. JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.94 on Thursday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 7.15 and a beta of 1.79. Rithm Capital has a 12 month low of $10.38 and a 12 month high of $12.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $11.28 and a 200 day moving average price of $11.17.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Research analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is 59.88%.

Hedge Funds Weigh In On Rithm Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management lifted its holdings in shares of Rithm Capital by 59.4% in the fourth quarter. Neo Ivy Capital Management now owns 207,258 shares of the real estate investment trust’s stock valued at $2,244,000 after purchasing an additional 77,204 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Rithm Capital during the fourth quarter worth about $127,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rithm Capital by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,381,920 shares of the real estate investment trust’s stock valued at $14,966,000 after buying an additional 208,875 shares during the last quarter. Vident Advisory LLC lifted its stake in Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Rithm Capital by 6.9% during the 4th quarter. Tidal Investments LLC now owns 19,959 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 1,282 shares during the last quarter. 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.