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

Key Points

• Rithm Capital Corp. declared a quarterly dividend of $0.25 per share, payable on October 31st, which provides an annualized yield of 8.0%.
• The company has a dividend payout ratio of 46.5%, indicating its dividends are well covered by earnings, with expected earnings of $2.06 per share next year.
• Shares of Rithm Capital traded up 3.1% on Wednesday, with a market capitalization of $6.60 billion and a current stock price of $12.45.

Rithm Capital Corp. (NYSE:RITM - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Stockholders of record on Wednesday, October 1st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Wednesday, October 1st.

Rithm Capital has a payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 1.5%

Shares of RITM traded down $0.18 during mid-day trading on Friday, hitting $12.11. 9,328,730 shares of the company's stock were exchanged, compared to its average volume of 4,687,160. The firm has a fifty day moving average of $12.25 and a two-hundred day moving average of $11.55. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.74. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 9.32 and a beta of 1.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

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.