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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Rithm Capital, with 10 buy ratings and one sell rating. The average 12-month price target is $13.15, above the reported share price of $8.76.
• Recent analyst actions were mixed but generally positive: BTIG, Piper Sandler, and UBS lowered their price targets while retaining buy or overweight ratings; other firms moved their ratings to hold or sell.
• Rithm Capital reported quarterly EPS of $0.60, beating the $0.50 consensus estimate, and announced a quarterly dividend of $0.25, equivalent to a 11.4% annualized yield.

Rithm Capital Corp. (NYSE:RITM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.15.

RITM has been the topic of several recent analyst reports. BTIG Research dropped their price target on shares of Rithm Capital from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Piper Sandler reduced 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. UBS Group reduced their target price on shares of Rithm Capital from $14.50 to $14.00 and set a "buy" rating for the company in a report on Friday, August 21st. Wall Street Zen upgraded shares of Rithm Capital from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Rithm Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday.

Insider Buying and Selling at Rithm Capital

In other news, Director Peggy Hebard sold 14,520 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the transaction, the director owned 82,259 shares of the company's stock, valued at approximately $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of RITM. Altshuler Shaham Ltd lifted its stake in shares of Rithm Capital by 100.0% in the 1st quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,800 shares during the period. Bogart Wealth LLC increased its stake 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 worth $39,000 after acquiring an additional 2,144 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Rithm Capital during the first quarter worth about $41,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Rithm Capital during the second quarter worth about $42,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Rithm Capital in the second quarter valued at about $43,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $8.76 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. Rithm Capital has a one year low of $8.43 and a one year high of $12.15. The company has a market cap of $4.89 billion, a PE ratio of 14.61, a P/E/G ratio of 0.55 and a beta of 1.16. The business has a 50-day simple moving average of $9.81 and a 200-day simple moving average of $9.55.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. On average, equities research analysts forecast that Rithm Capital will post 2.26 EPS for the current fiscal year.

Rithm Capital Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.4%. The ex-dividend date is Thursday, October 1st. Rithm Capital's dividend payout ratio (DPR) is 166.67%.

Rithm Capital Company Profile

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.

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