Rithm Capital Corp. (NYSE:RITM) Stock Has Consensus Price Target of $13.15

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.15.

RITM has been the subject of a number of research analyst reports. Piper Sandler dropped their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. UBS Group decreased their price target on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, BTIG Research dropped their price objective on Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th.

Rithm Capital Stock Up 0.2%

Shares of NYSE RITM opened at $8.63 on Tuesday. 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 $8.40 and a 52 week high of $12.15. The firm has a 50-day moving average price of $9.71 and a 200 day moving average price of $9.54. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.16.

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

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date is Thursday, October 1st. Rithm Capital’s payout ratio is presently 166.67%.

Insider Buying and Selling

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the sale, the director directly owned 82,259 shares in the company, valued at approximately $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its position in shares of Rithm Capital by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 153,387 shares of the real estate investment trust’s stock worth $1,440,000 after buying an additional 1,016 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Rithm Capital by 2.3% during the 1st quarter. Apollon Wealth Management LLC now owns 55,606 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Rithm Capital by 14.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,309 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,274 shares in the last quarter. World Investment Advisors increased its holdings in Rithm Capital by 7.2% during the 1st quarter. World Investment Advisors now owns 20,439 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. increased its holdings in Rithm Capital by 2.7% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 57,000 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

About Rithm Capital

Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.

Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.

The company was formerly known as New Residential Investment Corp.