Rithm Capital (NYSE:RITM) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Rithm Capital (NYSE:RITM) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $16.00 target price on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on RITM. Wedbush assumed coverage on Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $15.50 price target on shares of Rithm Capital in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.44.

Rithm Capital Stock Up 1.5%

RITM opened at $11.56 on Thursday. The company has a 50 day moving average of $11.15 and a 200 day moving average of $11.56. The company has a market cap of $6.41 billion, a PE ratio of 7.97 and a beta of 1.21. Rithm Capital has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. On average, sell-side analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.6%. Rithm Capital’s payout ratio is presently 68.97%.

Insider Buying and Selling

In related news, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were 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 can be accessed through the SEC website. Also, insider David Zeiden sold 19,285 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were 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. 0.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new stake in Rithm Capital in the 2nd quarter worth approximately $30,000. Bessemer Group Inc. raised its stake 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 worth $30,000 after acquiring an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $31,000. Mather Group LLC. purchased a new stake in shares of Rithm Capital in the 3rd quarter valued at $33,000. Finally, Optimum Investment Advisors grew its holdings in shares of Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. 44.92% of the stock is currently owned by 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.