Rithm Capital (NYSE:RITM) Shares Up 3% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent analyst reports. Piper Sandler increased their target price 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. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Friday. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Price Performance

The stock has a market capitalization of $5.90 billion, a P/E ratio of 6.78 and a beta of 1.83. The firm has a fifty day moving average price of $11.69 and a two-hundred day moving average price of $11.23. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 annualized dividend and a dividend yield of 8.82%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC lifted its position in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after purchasing an additional 951 shares during the period. 1620 Investment Advisors Inc. raised its stake in Rithm Capital by 2.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 960 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 967 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Rithm Capital by 2.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 1,016 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,051 shares during the last quarter. 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.