Rithm Capital Corp. (NYSE:RITM) Stock Has Average Price Target of $13.15 According to Brokerages

Rithm Capital Corp. (NYSE:RITM) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $13.15.

Several research firms recently commented on RITM. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. BTIG Research cut their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. UBS Group reduced their target price on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Finally, Piper Sandler dropped their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the transaction, the director owned 82,259 shares of the company’s stock, valued at approximately $837,396.62. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Rithm Capital

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

Rithm Capital Trading Up 1.0%

Shares of Rithm Capital stock opened at $8.62 on Tuesday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $4.81 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.54 and a beta of 1.16. Rithm Capital has a 52-week low of $8.40 and a 52-week high of $12.15. The stock’s 50-day simple moving average is $9.74 and its 200 day simple moving average is $9.54.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. As a group, research analysts anticipate that Rithm Capital will post 2.26 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 11.6%. Rithm Capital’s dividend payout ratio is currently 166.67%.

About Rithm Capital

Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.

Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.

The company was formerly known as New Residential Investment Corp.