Rithm Capital Corp. (NYSE:RITM) Receives $14.50 Average PT from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.50.

A number of equities research analysts have issued reports on RITM shares. Wedbush initiated coverage on Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. UBS Group set a $15.00 target price on shares of Rithm Capital in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th.

Rithm Capital Stock Down 3.1%

Shares of Rithm Capital stock opened at $10.08 on Monday. The business has a 50-day moving average price of $11.04 and a 200 day moving average price of $11.33. Rithm Capital has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The firm has a market cap of $5.60 billion, a P/E ratio of 9.69 and a beta of 1.21. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.19. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%.The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, sell-side analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.9%. Rithm Capital’s dividend payout ratio is presently 96.15%.

Hedge Funds Weigh In On Rithm Capital

Several large investors have recently bought and sold shares of RITM. Vanguard Group Inc. lifted its stake in shares of Rithm Capital by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after acquiring an additional 1,191,923 shares during the period. State Street Corp lifted its position in Rithm Capital by 5.3% in 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 purchasing an additional 530,607 shares during the period. Geode Capital Management LLC boosted its stake in Rithm Capital by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock valued at $104,904,000 after purchasing an additional 443,144 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Rithm Capital by 80.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after purchasing an additional 3,524,330 shares during the period. Finally, Norges Bank bought a new stake in shares of Rithm Capital in the 4th quarter worth $77,067,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.