Rithm Capital (NYSE:RITM) Shares Break Above 50-Day Moving Average – Here’s What Happened

Shares of Rithm Capital Corp. (NYSE:RITM – Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $9.26 and traded as high as $9.58. Rithm Capital shares last traded at $9.5050, with a volume of 5,456,375 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush began coverage on shares of Rithm Capital in a report on Thursday, October 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, October 27th. UBS Group dropped their price target on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen raised shares of Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.80.

Check Out Our Latest Analysis on RITM

Rithm Capital Stock Up 3.1%

The company has a 50-day moving average price of $9.26 and a 200 day moving average price of $9.69. The firm has a market capitalization of $5.31 billion, a PE ratio of 15.09, a P/E/G ratio of 0.57 and a beta of 1.16. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.55 and a quick ratio of 0.58.

Rithm Capital (NYSE:RITM – Get Free Report) last released its earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Rithm Capital had a return on equity of 20.03% and a net margin of 8.71%. Analysts forecast that Rithm Capital Corp. will post 2.32 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.5%. The ex-dividend date was Thursday, October 1st. Rithm Capital’s dividend payout ratio is presently 158.73%.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the sale, the director directly owned 82,259 shares of the company’s stock, valued at $837,396.62. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC grew its holdings in shares of Rithm Capital by 17.3% in the third quarter. Lido Advisors LLC now owns 187,508 shares of the real estate investment trust’s stock valued at $1,674,000 after purchasing an additional 27,707 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in Rithm Capital in the third quarter worth $463,000. Parallel Advisors LLC grew its stake in shares of Rithm Capital by 46.5% in the 3rd quarter. Parallel Advisors LLC now owns 50,097 shares of the real estate investment trust’s stock worth $447,000 after buying an additional 15,909 shares in the last quarter. Alta Advisers Ltd purchased a new position in shares of Rithm Capital in the 3rd quarter worth $108,000. Finally, Kestra Advisory Services LLC grew its stake in shares of Rithm Capital by 13.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 124,880 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 15,287 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Company Profile

(Get Free Report)

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.

Further Reading

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