Rithm Capital Corp. (NYSE:RITM) Receives Average Recommendation of “Buy” from Brokerages

Rithm Capital Corp. (NYSE:RITM) has received a consensus rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $12.94.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its position in shares of Rithm Capital by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 60,643 shares of the real estate investment trust’s stock valued at $661,000 after purchasing an additional 6,393 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Rithm Capital in the 2nd quarter worth about $1,022,000. WCG Wealth Advisors LLC bought a new position in shares of Rithm Capital in the second quarter valued at approximately $231,000. MQS Management LLC bought a new position in Rithm Capital during the 2nd quarter valued at $212,000. Finally, AE Wealth Management LLC lifted its position in shares of Rithm Capital by 58.8% during the second quarter. AE Wealth Management LLC now owns 16,182 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 5,992 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Up 0.3 %

RITM opened at $11.32 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The business has a 50 day moving average price of $11.04 and a 200 day moving average price of $11.13. The firm has a market cap of $5.88 billion, a P/E ratio of 11.43 and a beta of 1.79. Rithm Capital has a twelve month low of $9.97 and a twelve month high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. 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 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the business earned $0.58 earnings per share. Research analysts forecast that Rithm Capital will post 1.95 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued 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 presently 101.01%.

Rithm Capital Company Profile

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.