Rithm Capital (NYSE:RITM) Price Target Increased to $12.00 by Analysts at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its price target boosted by Keefe, Bruyette & Woods from $11.50 to $12.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on RITM. Wedbush restated an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley lifted their price objective on Rithm Capital from $12.00 to $13.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. JMP Securities lifted their price objective on Rithm Capital from $10.50 to $11.00 and gave the stock a market outperform rating in a research note on Thursday, January 18th. Royal Bank of Canada reaffirmed an outperform rating and set a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. Finally, Jonestrading lifted their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $12.00.

Rithm Capital Trading Up 1.6 %

RITM stock opened at $10.82 on Tuesday. The company has a market cap of $5.24 billion, a P/E ratio of 9.84 and a beta of 1.82. Rithm Capital has a twelve month low of $7.59 and a twelve month high of $11.33. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $10.82 and a 200-day moving average of $10.41.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Rithm Capital will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be paid a $0.25 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 9.24%. Rithm Capital’s payout ratio is 90.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC boosted its position in shares of Rithm Capital by 668.7% during the third quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after buying an additional 187,460 shares during the period. Lewis Asset Management LLC acquired a new position in shares of Rithm Capital during the fourth quarter worth about $2,813,000. Capula Management Ltd acquired a new position in shares of Rithm Capital during the third quarter worth about $910,000. Ritholtz Wealth Management acquired a new position in shares of Rithm Capital during the fourth quarter worth about $114,000. Finally, Invesco Ltd. boosted its position in shares of Rithm Capital by 67.0% during the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after buying an additional 480,769 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Company Profile

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.