Rithm Capital Corp. (NYSE:RITM) to Issue $0.25 Quarterly Dividend

Rithm Capital Corp. (NYSE:RITM - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, July 31st. This represents a $1.00 annualized dividend and a yield of 8.92%. The ex-dividend date is Monday, June 30th.

Rithm Capital has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Trading Down 0.0%

NYSE RITM traded down $0.01 during trading on Friday, hitting $11.21. The stock had a trading volume of 7,118,603 shares, compared to its average volume of 4,105,369. The company has a market capitalization of $5.94 billion, a PE ratio of 9.34 and a beta of 1.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average price of $11.07 and a 200 day moving average price of $11.22. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.48 EPS. As a group, equities research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of analyst reports. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reissued a "buy" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. BTIG Research reissued a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group decreased their target price on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Wedbush restated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $13.56.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of Rithm Capital by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock worth $17,627,000 after purchasing an additional 662,585 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust's stock worth $889,000 after purchasing an additional 13,166 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Rithm Capital by 5.3% during the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust's stock worth $359,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

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.