Jones Trading Reiterates "Buy" Rating for Rithm Capital (NYSE:RITM)

Jones Trading reissued their buy rating on shares of Rithm Capital (NYSE:RITM - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $12.50 target price on the real estate investment trust's stock.

RITM has been the subject of several other research reports. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $12.50 to $14.00 in a report on Monday, April 28th. BTIG Research reaffirmed a "buy" rating and set a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group decreased their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $13.61.

Rithm Capital Trading Up 0.9 %

RITM stock traded up $0.10 during midday trading on Tuesday, reaching $11.28. 5,120,687 shares of the company traded hands, compared to its average volume of 3,932,110. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 6.75 and a beta of 1.36. Rithm Capital has a 52-week low of $9.13 and a 52-week high of $12.20. The business has a 50 day moving average of $11.06 and a 200-day moving average of $11.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $0.48 earnings per share. As a group, sell-side analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.87%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio is presently 83.33%.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in RITM. Vanguard Group Inc. raised its stake in shares of Rithm Capital by 0.4% in 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock valued at $92,021,000 after acquiring an additional 79,142 shares during the last quarter. Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter worth $76,082,000. Balyasny Asset Management L.P. raised its holdings in shares of Rithm Capital by 48.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after purchasing an additional 2,136,342 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.