Rithm Capital Corp. (NYSE:RITM) Receives $13.56 Consensus Target Price from Brokerages

Rithm Capital Corp. (NYSE:RITM - Get Free Report) has been assigned an average rating of "Buy" from the nine ratings firms that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.56.

RITM has been the topic of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price target 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 target on shares of Rithm Capital in a research report on Friday, April 25th. Wedbush restated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Monday, May 19th. Finally, Jones Trading restated a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th.

Institutional Investors Weigh In On Rithm Capital

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

Rithm Capital Stock Performance

RITM traded down $0.01 during trading hours on Wednesday, reaching $11.21. The company's stock had a trading volume of 7,118,603 shares, compared to its average volume of 4,105,369. Rithm Capital has a 52 week low of $9.13 and a 52 week high of $12.20. The company's 50-day moving average is $11.07 and its 200-day moving average is $11.22. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $5.94 billion, a PE ratio of 9.34 and a beta of 1.26.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $28.89 million for the quarter, compared to analysts' expectations of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same quarter last year, the business earned $0.48 EPS. On average, equities analysts forecast that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. 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.