Rithm Capital (NYSE:RITM) Stock Price Up 3% – Still a Buy?

Rithm Capital Corp. (NYSE:RITM) traded up 3% during trading on Monday . The stock traded as high as $11.40 and last traded at $11.48. 1,028,494 shares were traded during trading, a decline of 71% from the average session volume of 3,557,446 shares. The stock had previously closed at $11.14.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RITM shares. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Friday. Finally, Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Stock Up 1.8 %

The company has a market capitalization of $5.90 billion, a PE ratio of 6.78 and a beta of 1.83. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $11.69 and its two-hundred day moving average is $11.23.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.82%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently bought and sold shares of RITM. Norges Bank purchased a new position in shares of Rithm Capital in the 4th quarter worth $76,082,000. JPMorgan Chase & Co. increased its stake 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 worth $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Azora Capital LP raised its position in Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Rithm Capital by 48.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock valued at $70,780,000 after purchasing an additional 2,136,342 shares during the last quarter. Finally, Soros Fund Management LLC purchased a new position in shares of Rithm Capital in the 3rd quarter worth approximately $23,835,000. Institutional investors 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.