Rithm Capital (NYSE:RITM) Sets New 12-Month High at $11.45

Rithm Capital Corp. (NYSE:RITM - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $11.45 and last traded at $11.39, with a volume of 474257 shares trading hands. The stock had previously closed at $11.32.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RITM. Royal Bank of Canada restated an "outperform" rating and set a $12.00 price objective on shares of Rithm Capital in a research report on Monday, April 1st. Argus raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Jonestrading boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an "outperform" rating in a report on Thursday. Finally, B. Riley raised their target price on Rithm Capital from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $12.05.

Rithm Capital Stock Performance

The company's fifty day moving average price is $10.95 and its 200 day moving average price is $10.56. The company has a market cap of $5.47 billion, a PE ratio of 7.55 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly 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. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The company had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. During the same period in the previous year, the firm earned $0.33 EPS. On average, equities research analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.84%. The ex-dividend date was Thursday, March 28th. Rithm Capital's dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Rithm Capital

A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Rithm Capital in the fourth quarter worth $63,896,000. Charles Schwab Investment Management Inc. boosted its position in Rithm Capital by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,853,568 shares of the real estate investment trust's stock valued at $51,836,000 after buying an additional 94,989 shares during the period. Northern Trust Corp boosted its holdings in shares of Rithm Capital by 69.3% during the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust's stock worth $35,581,000 after purchasing an additional 1,567,489 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Rithm Capital by 0.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,089,008 shares of the real estate investment trust's stock worth $28,697,000 after buying an additional 25,323 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its holdings in Rithm Capital by 2.8% in the third quarter. Advisors Capital Management LLC now owns 2,435,331 shares of the real estate investment trust's stock valued at $22,624,000 after acquiring an additional 66,750 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

About Rithm Capital

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.