Analysts Set Rithm Capital Corp. (NYSE:RITM) PT at $13.56

Rithm Capital Corp. (NYSE:RITM - Get Free Report) has been assigned an average recommendation of "Buy" from the nine brokerages that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $13.56.

Several brokerages recently weighed in on RITM. UBS Group cut their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. BTIG Research restated a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RITM. SouthState Corp purchased a new position in shares of Rithm Capital during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC lifted its position in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Quarry LP lifted its position in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,327 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,211 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Rithm Capital during the 1st quarter valued at approximately $57,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

NYSE:RITM traded down $0.08 during midday trading on Friday, hitting $11.67. The company's stock had a trading volume of 2,745,003 shares, compared to its average volume of 4,170,888. Rithm Capital has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The firm's 50 day moving average is $11.37 and its 200-day moving average is $11.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $6.19 billion, a P/E ratio of 9.73 and a beta of 1.25.

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

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.57%. Rithm Capital's dividend payout ratio is presently 83.33%.

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.