Rithm Capital Corp. (NYSE:RITM) Given Average Recommendation of “Buy” by Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have been given a consensus rating of “Buy” by the ten research firms that are currently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.25.

A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. UBS Group increased their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Jones Trading increased their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada increased their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st.

Rithm Capital Stock Up 0.9%

RITM stock opened at $10.93 on Tuesday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 8.40 and a beta of 1.31. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12 month low of $9.13 and a 12 month high of $12.74. The firm has a 50-day moving average of $11.86 and a two-hundred day moving average of $11.49.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Rithm Capital’s dividend payout ratio is 76.92%.

Institutional Trading of Rithm Capital

Several hedge funds have recently made changes to their positions in the company. Curi Capital LLC grew its stake in shares of 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 period. Geneos Wealth Management Inc. boosted its position in shares of Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 881 shares during the period. GAMMA Investing LLC boosted its position in shares of Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in shares of Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 945 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 974 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

About Rithm Capital

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.