Rithm Capital Corp. (NYSE:RITM) Receives $12.94 Average Price Target from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have received an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.94.

A number of research firms have issued reports on RITM. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Rithm Capital during the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,062 shares during the last quarter. Finally, Godsey & Gibb Inc. acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $51,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.32 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $5.88 billion, a P/E ratio of 11.43 and a beta of 1.79. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The business has a fifty day moving average price of $11.04 and a 200-day moving average price of $11.13.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the company earned $0.58 EPS. As a group, equities research analysts forecast that Rithm Capital will post 1.95 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.84%. Rithm Capital’s payout ratio is 101.01%.

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.