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

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $12.94.

Several analysts have weighed in on RITM shares. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th.

Institutional Trading of Rithm Capital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock worth $530,761,000 after purchasing an additional 184,802 shares during the period. Geode Capital Management LLC raised its stake in Rithm Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust’s stock worth $92,021,000 after buying an additional 79,142 shares in the last quarter. Norges Bank purchased a new stake in Rithm Capital in the fourth quarter worth about $76,082,000. Charles Schwab Investment Management Inc. boosted its position in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after acquiring an additional 366,600 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Rithm Capital by 119.1% during the 3rd 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. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $11.92 on Thursday. The firm has a market capitalization of $6.20 billion, a PE ratio of 7.14 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12 month low of $10.06 and a 12 month high of $12.02. The business’s 50-day moving average price is $11.19 and its 200-day moving average price is $11.15.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Sell-side analysts forecast that Rithm Capital will post 1.92 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.39%. Rithm Capital’s dividend payout ratio is presently 59.88%.

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.