Rithm Capital (NYSE:RITM) Given New $13.50 Price Target at Jones Trading

Key Points

• Jones Trading has increased its target price for Rithm Capital's stock from $12.50 to $13.50, indicating a potential upside of 10.47% based on the stock's previous close.
• The company has received positive ratings from multiple analysts, with an average consensus target price of $13.81 and eight analysts rating the stock as "buy."
• Rithm Capital reported earnings per share of $0.52 for the last quarter, exceeding expectations of $0.45, and has a market capitalization of $6.48 billion.

Rithm Capital (NYSE:RITM - Free Report) had its price target upped by Jones Trading from $12.50 to $13.50 in a research note issued to investors on Tuesday morning,Benzinga reports. Jones Trading currently has a buy rating on the real estate investment trust's stock.

RITM has been the topic of several other reports. UBS Group restated a "buy" rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. 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. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a report on Monday, May 19th. Royal Bank Of Canada reiterated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, May 20th. Finally, BTIG Research reiterated a "buy" rating and set a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rithm Capital has an average rating of "Buy" and a consensus price target of $13.88.

Rithm Capital Trading Down 1.4%

Shares of NYSE:RITM traded down $0.17 during midday trading on Tuesday, hitting $12.20. The company had a trading volume of 5,213,658 shares, compared to its average volume of 3,988,657. Rithm Capital has a 12 month low of $9.13 and a 12 month high of $12.59. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 9.38 and a beta of 1.25. The firm has a fifty day simple moving average of $11.52 and a 200 day simple moving average of $11.37.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, analysts predict that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio is 76.92%.

Institutional Trading of Rithm Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC increased its position in Rithm Capital by 7.9% during the second quarter. Bleakley Financial Group LLC now owns 39,321 shares of the real estate investment trust's stock worth $444,000 after buying an additional 2,893 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Rithm Capital during the second quarter worth approximately $30,000. Chicago Partners Investment Group LLC increased its position in Rithm Capital by 4.1% during the second quarter. Chicago Partners Investment Group LLC now owns 48,471 shares of the real estate investment trust's stock worth $594,000 after buying an additional 1,926 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Rithm Capital during the second quarter worth approximately $24,938,000. Finally, Mutual Advisors LLC increased its position in Rithm Capital by 37.4% during the second quarter. Mutual Advisors LLC now owns 19,953 shares of the real estate investment trust's stock worth $243,000 after buying an additional 5,435 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

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.