Rithm Capital (NYSE:RITM) Reaches New 52-Week High at $11.33

Rithm Capital Corp. (NYSE:RITM)’s share price hit a new 52-week high on Monday . The stock traded as high as $11.33 and last traded at $11.27, with a volume of 1206291 shares traded. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RITM shares. B. Riley increased their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Argus raised their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Monday, February 26th. Finally, Keefe, Bruyette & Woods raised their target price on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.00.

Rithm Capital Trading Up 0.1 %

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.43 billion, a PE ratio of 10.19 and a beta of 1.82. The company has a fifty day simple moving average of $10.89 and a two-hundred day simple moving average of $10.49.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The firm had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same period in the prior year, the firm earned $0.33 earnings per share. Analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s dividend payout ratio is presently 90.91%.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RITM. Norges Bank acquired a new stake in shares of Rithm Capital in the 4th quarter valued at about $63,896,000. Northern Trust Corp raised its position in shares of Rithm Capital by 69.3% in the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after buying an additional 1,567,489 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of Rithm Capital by 4,525.1% during the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after buying an additional 751,895 shares during the period. Qube Research & Technologies Ltd boosted its position in Rithm Capital by 360.6% during the third quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after acquiring an additional 749,058 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after acquiring an additional 607,413 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

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.