Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $13.25

Shares of Rithm Capital Corp. (NYSE:RITM) have earned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.25.

Several research firms recently weighed in on RITM. JMP Securities restated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler lifted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.44 on Friday. The company has a market cap of $5.43 billion, a PE ratio of 6.25 and a beta of 1.36. 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 52 week low of $10.28 and a 52 week high of $12.20. The business has a 50 day moving average price of $11.68 and a 200-day moving average price of $11.21.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.58%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock worth $530,761,000 after buying an additional 184,802 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rithm Capital by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust’s stock worth $92,021,000 after acquiring an additional 79,142 shares during the period. Norges Bank purchased a new stake in Rithm Capital in the 4th quarter worth about $76,082,000. Balyasny Asset Management L.P. raised its stake in Rithm Capital by 48.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock valued at $70,780,000 after acquiring an additional 2,136,342 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Institutional investors 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.