Brokerages Set Rithm Capital Corp. (NYSE:RITM) PT at $13.15

Rithm Capital Corp. (NYSE:RITM) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $13.15.

Several equities analysts recently commented on RITM shares. Weiss Ratings upgraded Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 25th. BTIG Research lowered their price target on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Compass Point initiated coverage on Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. Wall Street Zen raised Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Piper Sandler decreased 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.

Rithm Capital Stock Up 0.1%

RITM opened at $9.49 on Friday. The company has a fifty day moving average price of $9.83 and a 200-day moving average price of $9.60. The firm has a market capitalization of $5.30 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.76 and a quick ratio of 0.76. Rithm Capital has a one year low of $8.43 and a one year high of $12.46.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Equities research analysts expect that Rithm Capital will post 2.26 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 annualized dividend and a yield of 10.5%. Rithm Capital’s payout ratio is presently 166.67%.

Insider Buying and Selling

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the transaction, the director owned 82,259 shares of the company’s stock, valued at $837,396.62. The trade was a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd increased its stake in Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,800 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Rithm Capital by 108.5% in the 1st quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,144 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Rithm Capital in the 1st quarter worth about $41,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Rithm Capital during the 2nd quarter valued at about $42,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Rithm Capital during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

About Rithm Capital

Rithm Capital Corporation (NYSE:RITM) is a real estate investment trust that focuses on investments and operating businesses tied to the residential mortgage and real estate markets. The company seeks to generate income from mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other related assets.

Rithm also owns and operates businesses involved in mortgage origination, servicing and related financial services. Its platform includes Newrez, a mortgage company that provides loan origination, servicing and associated services to homeowners and borrowers in the United States.