Rithm Capital Corp. (NYSE:RITM) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM - Get Free Report) have been assigned a consensus rating of "Buy" from the nine brokerages that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.56.

A number of research firms have weighed in on RITM. Jones Trading restated a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Tuesday, April 29th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $12.50 to $14.00 in a research note on Monday, April 28th. UBS Group reduced their price objective on Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, May 20th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its position in Rithm Capital by 1.2% during the fourth quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust's stock valued at $2,379,000 after purchasing an additional 2,701 shares in the last quarter. Wedbush Securities Inc. raised its stake in Rithm Capital by 13.7% during the 4th quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust's stock valued at $2,509,000 after buying an additional 27,924 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Rithm Capital by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust's stock valued at $20,755,000 after buying an additional 159,506 shares during the last quarter. EMC Capital Management increased its stake in shares of Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust's stock worth $383,000 after purchasing an additional 32,930 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after buying an additional 184,802 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Up 1.1%

Shares of RITM traded up $0.12 during midday trading on Friday, reaching $11.27. 3,561,063 shares of the stock were exchanged, compared to its average volume of 4,036,753. The firm has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $11.19. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital has a 12-month low of $9.13 and a 12-month high of $12.20. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 6.75 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter in the previous year, the firm earned $0.48 EPS. Research analysts forecast that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.87%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 83.33%.

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.