Rithm Capital's (RITM) Buy Rating Reaffirmed at B. Riley

B. Riley restated their buy rating on shares of Rithm Capital (NYSE:RITM - Free Report) in a research note published on Friday, Benzinga reports. They currently have a $14.00 price target on the real estate investment trust's stock, up from their prior price target of $13.00.

A number of other research analysts have also commented on RITM. Wedbush reiterated an outperform rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday. Jonestrading increased their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Argus increased their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada restated an outperform rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $12.14.

Rithm Capital Stock Performance

RITM traded up $0.05 on Friday, reaching $11.38. The company had a trading volume of 2,550,335 shares, compared to its average volume of 3,001,122. Rithm Capital has a fifty-two week low of $7.80 and a fifty-two week high of $11.45. The stock has a market cap of $5.50 billion, a P/E ratio of 7.58 and a beta of 1.80. The company's fifty day moving average is $11.00 and its 200 day moving average is $10.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.30 and a current ratio of 0.29.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.33%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, analysts predict that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.79%. The ex-dividend date was Thursday, March 28th. Rithm Capital's payout ratio is 66.67%.

Hedge Funds Weigh In On Rithm Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seelaus Asset Management LLC raised its stake in shares of Rithm Capital by 2.7% during the first quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust's stock valued at $407,000 after acquiring an additional 955 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of Rithm Capital by 3.8% during the first quarter. Leavell Investment Management Inc. now owns 27,264 shares of the real estate investment trust's stock worth $311,000 after buying an additional 1,000 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Rithm Capital by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust's stock worth $1,966,000 after buying an additional 1,070 shares during the period. Wedmont Private Capital increased its position in shares of Rithm Capital by 5.9% during the fourth quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust's stock worth $209,000 after buying an additional 1,087 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Rithm Capital by 0.9% during the third quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust's stock worth $1,163,000 after buying an additional 1,139 shares during the period. Institutional investors own 44.92% of the company's stock.

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.