Rithm Capital (NYSE:RITM) Price Target Increased to $12.50 by Analysts at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its target price raised by Keefe, Bruyette & Woods from $12.00 to $12.50 in a research report sent to investors on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on RITM. B. Riley lifted their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a buy rating in a report on Wednesday, February 21st. Wedbush reiterated an outperform rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Monday, February 26th. Argus boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research report on Tuesday, March 5th. JMP Securities reissued a market outperform rating and issued a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Finally, Jonestrading upped their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $12.05.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.32 on Thursday. The firm has a market cap of $5.48 billion, a PE ratio of 7.55 and a beta of 1.80. The company has a fifty day moving average price of $10.95 and a 200 day moving average price of $10.56. Rithm Capital has a 1-year low of $7.59 and a 1-year high of $11.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same period last year, the firm earned $0.33 earnings per share. Research analysts predict that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Rithm Capital in the first quarter valued at approximately $62,000. Seelaus Asset Management LLC raised its holdings in shares of Rithm Capital by 2.7% during the first quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 955 shares during the period. Norden Group LLC bought a new position in shares of Rithm Capital during the 1st quarter worth about $156,000. Van ECK Associates Corp increased its position in Rithm Capital by 9.4% in the 1st quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust’s stock valued at $22,581,000 after buying an additional 174,523 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Rithm Capital by 13.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 456,351 shares of the real estate investment trust’s stock worth $5,093,000 after buying an additional 55,821 shares during the period. 44.92% of the stock is owned by institutional investors.

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.