Rithm Capital Corp. (NYSE:RITM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.25.

RITM has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Wednesday, August 6th. BTIG Research reissued a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Wednesday, September 17th. Jones Trading increased their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, UBS Group increased their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Curi Capital LLC raised its position in shares of Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after purchasing an additional 829 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 881 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 945 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 974 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE:RITM opened at $10.93 on Tuesday. Rithm Capital has a one year low of $9.13 and a one year high of $12.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 8.40 and a beta of 1.31. The firm’s fifty day moving average is $11.86 and its two-hundred day moving average is $11.49.

Rithm Capital (NYSE:RITM) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Research analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s dividend payout ratio is 76.92%.

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.