Rithm Capital Corp. (NYSE:RITM) Given Consensus Rating of “Buy” by Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus rating of “Buy” from the eight brokerages that are covering the stock, 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 1 year target price among brokerages that have issued a report on the stock in the last year is $12.94.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.34 on Friday. The company’s fifty day moving average price is $10.98 and its 200 day moving average price is $11.11. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a market capitalization of $5.89 billion, a PE ratio of 11.45 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, research analysts predict that Rithm Capital will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s payout ratio is currently 101.01%.

Institutional Investors Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 worth $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Van ECK Associates Corp increased its position in Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Rithm Capital during the third quarter worth about $1,476,000. Finally, Waterfall Asset Management LLC purchased a new position in Rithm Capital during the second quarter worth about $2,209,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.