Jones Trading Boosts Rithm Capital (NYSE:RITM) Price Target to $13.50

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 objective raised by Jones Trading from $12.50 to $13.50 in a research report sent to investors on Tuesday morning,Benzinga reports. Jones Trading currently has a buy rating on the real estate investment trust's stock.

A number of other brokerages also recently weighed in on RITM. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. BTIG Research restated a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group restated a "buy" rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Royal Bank Of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Stock Up 0.2%

RITM stock traded up $0.02 during midday trading on Tuesday, hitting $12.05. 4,239,371 shares of the company's stock were exchanged, compared to its average volume of 4,076,078. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. Rithm Capital has a 12-month low of $9.13 and a 12-month high of $12.59. The firm has a 50 day moving average price of $11.57 and a 200-day moving average price of $11.39. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.27 and a beta of 1.25.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, analysts anticipate that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Monday, June 30th. Rithm Capital's payout ratio is 76.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Rithm Capital by 1.2% in the 4th quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust's stock worth $2,379,000 after buying an additional 2,701 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Rithm Capital by 13.7% in the 4th quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust's stock worth $2,509,000 after buying an additional 27,924 shares in the last quarter. KBC Group NV raised its stake in shares of Rithm Capital by 24.0% in the 1st quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust's stock worth $262,000 after buying an additional 4,423 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after purchasing an additional 184,802 shares during the period. Finally, Amalgamated Bank raised its position in shares of Rithm Capital by 5.9% during the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust's stock worth $310,000 after purchasing an additional 1,502 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

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.