Shares of Rithm Capital Corp. (NYSE:RITM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.20 and last traded at $12.19, with a volume of 2604954 shares changing hands. The stock had previously closed at $12.00.
Analysts Set New Price Targets
Several brokerages have weighed in on RITM. BTIG Research reiterated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Jones Trading restated a "buy" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. UBS Group raised their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, May 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $13.69.
Get Our Latest Research Report on Rithm Capital
Rithm Capital Trading Down 0.4%
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 stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 10.15 and a beta of 1.25. The business's 50-day simple moving average is $11.49 and its two-hundred day simple moving average is $11.35.
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 (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.27 billion. During the same quarter last year, the firm posted $0.48 earnings per share. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio is currently 83.33%.
Institutional Trading of Rithm Capital
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SouthState Corp bought a new position in shares of Rithm Capital during the first quarter worth about $25,000. Fourth Dimension Wealth LLC grew its position 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 in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $43,000. Quarry LP raised 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 acquiring an additional 1,327 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,211 shares during the period. Institutional investors own 44.92% of the company's stock.
About Rithm Capital
(
Get Free Report)
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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