Rithm Capital Corp. (NYSE:RITM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.6250.

Several equities research analysts recently issued reports on RITM shares. Piper Sandler decreased their price target on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 10th. Royal Bank Of Canada dropped their price target on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. UBS Group dropped their price target on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, JonesTrading restated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a research report on Tuesday, April 28th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Rithm Capital by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after buying an additional 1,191,923 shares during the last quarter. State Street Corp raised its holdings in Rithm Capital by 5.3% during the fourth quarter. State Street Corp now owns 10,557,874 shares of the real estate investment trust’s stock worth $117,701,000 after buying an additional 530,607 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rithm Capital by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock worth $104,904,000 after buying an additional 443,144 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after buying an additional 3,524,330 shares during the last quarter. Finally, Norges Bank acquired a new position in Rithm Capital during the fourth quarter worth $77,067,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

RITM stock opened at $9.85 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of 9.03 and a beta of 1.17. The company has a quick ratio of 0.58, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. The company’s 50-day moving average price is $9.72 and its two-hundred day moving average price is $10.61. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. On average, analysts anticipate that Rithm Capital will post 2.28 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date was Monday, April 6th. Rithm Capital’s payout ratio is presently 91.74%.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.