Analysts Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.45

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $12.45.

RITM has been the topic of several analyst reports. B. Riley restated a “buy” rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, May 9th. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Piper Sandler increased their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, JMP Securities upped their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Seelaus Asset Management LLC lifted its stake in shares of Rithm Capital by 2.7% in the first quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 955 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Rithm Capital by 3.8% during the first quarter. Leavell Investment Management Inc. now owns 27,264 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Rithm Capital by 15.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,200 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,461 shares during the period. Finally, SeaCrest Wealth Management LLC increased its holdings in shares of Rithm Capital by 1.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 94,567 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 1,547 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 1.6 %

Shares of NYSE:RITM opened at $11.17 on Friday. Rithm Capital has a 52-week low of $8.87 and a 52-week high of $11.85. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 7.45 and a beta of 1.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $11.13 and a 200-day moving average price of $10.98.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.62 earnings per share. Rithm Capital’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts predict that Rithm Capital will post 1.78 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.95%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.