Shares of Rithm Capital Corp. (NYSE:RITM – Get Free Report) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.6250.
RITM has been the subject of a number of research reports. JonesTrading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods lowered their price objective 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. Royal Bank Of Canada lowered their price objective 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. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 10th. Finally, Wedbush lowered their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research note on Friday, May 1st.
Read Our Latest Stock Analysis on Rithm Capital
Rithm Capital Trading Down 2.0%
Rithm Capital (NYSE:RITM – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. Equities research analysts forecast that Rithm Capital will post 2.27 earnings per share for the current year.
Rithm Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 11.0%. Rithm Capital’s dividend payout ratio is 91.74%.
Institutional Trading of Rithm Capital
Several hedge funds have recently modified their holdings of RITM. CoreCap Advisors LLC lifted its position in shares of Rithm Capital by 99.2% during the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,143 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Rithm Capital during the fourth quarter valued at about $26,000. Bessemer Group Inc. lifted its position in shares of Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Rithm Capital during the third quarter valued at about $31,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Rithm Capital during the fourth quarter valued at about $31,000. 44.92% of the stock is owned by hedge funds and other institutional investors.
About Rithm Capital
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.
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