Analysts Set Rithm Capital Corp. (NYSE:RITM) PT at $13.20

Rithm Capital Corp. (NYSE:RITM) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.15.

A number of brokerages recently issued reports on RITM. JonesTrading reissued a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research note on Tuesday, April 28th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods decreased their target price on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st.

Rithm Capital Price Performance

Rithm Capital stock opened at $10.21 on Monday. Rithm Capital has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.19. The firm has a 50-day moving average price of $9.57 and a 200-day moving average price of $9.68. The firm has a market capitalization of $5.70 billion, a PE ratio of 17.02 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. As a group, equities research analysts forecast that Rithm Capital will post 2.26 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Thursday, July 2nd. Rithm Capital’s dividend payout ratio is currently 166.67%.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently made changes to their positions in the company. Curi Capital LLC grew its stake in Rithm Capital by 0.7% in the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after buying an additional 829 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares during the period. Fort Sheridan Advisors LLC lifted its position in Rithm Capital by 0.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock worth $4,002,000 after acquiring an additional 1,000 shares during the last quarter. Essex Financial Services Inc. lifted its position in Rithm Capital by 5.5% during the 4th quarter. Essex Financial Services Inc. now owns 19,699 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Rithm Capital by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 165,278 shares of the real estate investment trust’s stock valued at $1,883,000 after acquiring an additional 1,024 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.