Rithm Capital (NYSE:RITM) Given New $12.00 Price Target at BTIG Research

Rithm Capital (NYSE:RITM) had its price target trimmed by BTIG Research from $13.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

RITM has been the topic of a number of other reports. UBS Group lowered their price target on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Wall Street Zen raised shares of Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings lowered shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, Piper Sandler reduced their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.05.

Rithm Capital Price Performance

NYSE:RITM opened at $8.54 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.19. The business’s 50-day simple moving average is $9.68 and its two-hundred day simple moving average is $9.54. The stock has a market cap of $4.77 billion, a PE ratio of 14.23, a P/E/G ratio of 0.55 and a beta of 1.16. Rithm Capital has a 52 week low of $8.40 and a 52 week high of $12.15.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. As a group, analysts forecast that Rithm Capital will post 2.26 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.7%. Rithm Capital’s dividend payout ratio (DPR) is presently 166.67%.

Insider Buying and Selling at Rithm Capital

In other news, Director Peggy Hebard sold 14,520 shares of Rithm Capital stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the sale, the director directly owned 82,259 shares of the company’s stock, valued at approximately $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of Rithm Capital by 26.9% in the 1st quarter. Cetera Investment Advisers now owns 1,447,552 shares of the real estate investment trust’s stock worth $13,723,000 after buying an additional 306,615 shares in the last quarter. BlueCrest Capital Management Ltd increased its holdings in shares of Rithm Capital by 37.8% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 2,046,427 shares of the real estate investment trust’s stock worth $19,216,000 after buying an additional 561,819 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Rithm Capital during the 2nd quarter valued at about $2,574,000. Family Manage LLC raised its position in shares of Rithm Capital by 62.1% during the 1st quarter. Family Manage LLC now owns 487,557 shares of the real estate investment trust’s stock valued at $4,622,000 after buying an additional 186,816 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Rithm Capital during the 2nd quarter valued at about $22,001,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Company Profile

Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.

Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.

The company was formerly known as New Residential Investment Corp.