Rithm Capital (NYSE:RITM) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Rithm Capital (NYSE:RITM) released its earnings results on Tuesday. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.43 by $0.11, RTT News reports. The business had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. During the same period in the prior year, the business earned $0.58 earnings per share.

Rithm Capital Stock Up 1.0 %

Shares of NYSE RITM traded up $0.11 during mid-day trading on Wednesday, reaching $10.81. The company had a trading volume of 1,910,766 shares, compared to its average volume of 3,481,690. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 9.08 and a beta of 1.80. The stock has a fifty day moving average of $11.25 and a two-hundred day moving average of $11.18. Rithm Capital has a 12-month low of $9.20 and a 12-month high of $12.02.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.25%. Rithm Capital’s dividend payout ratio (DPR) is presently 84.03%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. JMP Securities lifted their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

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.