Analysts Set Rithm Capital Corp. (NYSE:RITM) Target Price at $13.56

Rithm Capital Corp. (NYSE:RITM) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.69.

Several research analysts have weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. Jones Trading restated a “buy” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Monday, May 19th. BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th.

Rithm Capital Stock Down 0.2%

Shares of Rithm Capital stock opened at $11.71 on Friday. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 9.75 and a beta of 1.25. The company’s 50 day moving average is $11.39 and its 200 day moving average is $11.28. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.20. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Research analysts anticipate that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.54%. Rithm Capital’s payout ratio is 83.33%.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently bought and sold shares of the stock. SouthState Corp purchased a new position in shares of Rithm Capital in the 1st quarter worth $25,000. Fourth Dimension Wealth LLC grew its stake in shares of Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Quarry LP grew its stake in shares of Rithm Capital by 47.5% in the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,327 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,211 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in Rithm Capital during the 1st quarter valued at about $57,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.