Rithm Capital Corp. (NYSE:RITM) Receives Average Rating of “Buy” from Brokerages

Rithm Capital Corp. (NYSE:RITM) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.25.

Several research firms recently issued reports on RITM. UBS Group boosted their target price 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. Royal Bank Of Canada boosted their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Wednesday, September 17th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rithm Capital in a report on Thursday, November 13th.

Insider Buying and Selling at Rithm Capital

In related news, CEO Michael Nierenberg sold 301,548 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $11.11, for a total value of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently modified their holdings of the company. Curi Capital LLC grew its position 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 purchasing an additional 829 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 881 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Rithm Capital by 19.1% in the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 887 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Rithm Capital by 8.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 945 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Rithm Capital by 2.0% during the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 974 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.84 on Friday. The stock has a market capitalization of $6.01 billion, a PE ratio of 7.47 and a beta of 1.30. The business’s 50 day simple moving average is $11.24 and its 200 day simple moving average is $11.59. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. Rithm Capital has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. As a group, research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 68.97%.

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.