B. Riley Upgrades Rithm Capital (NYSE:RITM) to Strong-Buy

B. Riley upgraded shares of Rithm Capital (NYSE:RITM) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Down 0.4 %

RITM stock opened at $10.96 on Tuesday. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02. The business has a 50-day simple moving average of $10.92 and a 200 day simple moving average of $11.10. 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 company has a market cap of $5.70 billion, a PE ratio of 11.07 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the firm posted $0.58 EPS. Sell-side analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.12%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Rithm Capital by 7.8% in the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Rithm Capital by 119.1% in 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 acquiring an additional 2,504,529 shares during the period. Azora Capital LP boosted its holdings in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Rithm Capital by 37.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after purchasing an additional 978,954 shares during the period. Institutional investors and hedge funds 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.