Rithm Capital (NYSE:RITM) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Rithm Capital (NYSE:RITM) in a research report released on Friday,Benzinga reports. Wedbush currently has a $14.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on RITM. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Performance

NYSE RITM opened at $11.39 on Friday. The company’s 50 day simple moving average is $11.69 and its two-hundred day simple moving average is $11.23. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. Rithm Capital has a 1 year low of $10.38 and a 1 year high of $12.20. The stock has a market capitalization of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 8.78%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is 59.88%.

Institutional Investors Weigh In On Rithm Capital

A number of large investors have recently made changes to their positions in RITM. SeaCrest Wealth Management LLC lifted its stake in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares during the period. 1620 Investment Advisors Inc. lifted its position in shares of Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 960 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Rithm Capital by 2.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 1,016 shares during the period. Finally, Vident Advisory LLC raised its stake in Rithm Capital by 7.3% in the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,051 shares in the last quarter. 44.92% of the stock is currently owned by 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.