Rithm Capital Corp. (NYSE:RITM) Announces Quarterly Dividend of $0.25

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 dividend on an annualized basis and a yield of 8.92%.

Rithm Capital has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

RITM stock traded up $0.11 during midday trading on Wednesday, reaching $11.22. 4,087,975 shares of the stock were exchanged, compared to its average volume of 4,083,821. The company has a fifty day moving average price of $10.99 and a 200 day moving average price of $11.22. The stock has a market capitalization of $5.95 billion, a PE ratio of 9.35 and a beta of 1.26. Rithm Capital has a 52 week low of $9.13 and a 52 week high of $12.20. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35.

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

Analyst Ratings Changes

A number of brokerages have weighed in on RITM. UBS Group decreased their price target on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. BTIG Research reiterated a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Monday, May 19th. 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. Finally, Jones Trading reaffirmed a "buy" rating and set a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of "Buy" and an average target price of $13.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Rithm Capital by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust's stock worth $889,000 after acquiring an additional 13,166 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Rithm Capital by 5.3% in the 1st quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust's stock worth $359,000 after acquiring an additional 1,585 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Rithm Capital by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock valued at $17,627,000 after acquiring an additional 662,585 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Rithm Capital by 14.3% in the 1st 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 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.

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