Rithm Capital Corp. (RITM) To Go Ex-Dividend on October 1st

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Thursday, September 17th. Shareholders of record on Thursday, October 1st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend is Thursday, October 1st.

Rithm Capital has increased its dividend payment by an average of 0.1%annually over the last three years. Rithm Capital has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 43.7%.

Rithm Capital Stock Down 1.4%

NYSE RITM opened at $9.36 on Friday. The stock’s 50-day moving average price is $9.83 and its 200-day moving average price is $9.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.19. Rithm Capital has a 52 week low of $8.43 and a 52 week high of $12.33. The company has a market capitalization of $5.22 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. On average, equities research analysts predict that Rithm Capital will post 2.26 earnings per share for the current year.

Analyst Ratings Changes

RITM has been the subject of a number of analyst reports. Compass Point assumed coverage on shares of Rithm Capital in a research note on Monday, June 8th. They issued a “buy” rating and a $14.00 price objective for the company. Weiss Ratings raised shares of Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 25th. UBS Group cut their price target on Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Piper Sandler decreased their price target on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, BTIG Research lowered their price objective on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.15.

About Rithm Capital

Rithm Capital Corporation (NYSE:RITM) is a real estate investment trust that focuses on investments and operating businesses tied to the residential mortgage and real estate markets. The company seeks to generate income from mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other related assets.

Rithm also owns and operates businesses involved in mortgage origination, servicing and related financial services. Its platform includes Newrez, a mortgage company that provides loan origination, servicing and associated services to homeowners and borrowers in the United States.