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

Shares of Rithm Capital Corp. (NYSE:RITM) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.7143.

RITM has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $15.50 price objective on shares of Rithm Capital in a report on Monday, December 22nd. UBS Group began coverage on shares of Rithm Capital in a research report on Thursday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th.

Rithm Capital Trading Down 1.3%

NYSE RITM opened at $11.91 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. Rithm Capital has a 52 week low of $9.13 and a 52 week high of $12.74. The business has a 50 day moving average price of $11.31 and a 200-day moving average price of $11.57. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 8.21 and a beta of 1.21.

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, hitting analysts’ consensus estimates of $0.54. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. As a group, equities analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued 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 8.4%. Rithm Capital’s dividend payout ratio is 68.97%.

Insider Buying and Selling at Rithm Capital

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of Rithm Capital stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The SEC filing for this sale provides additional information. 0.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds have recently modified their holdings of RITM. CoreCap Advisors LLC grew its holdings in shares of Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Rithm Capital in the 2nd quarter valued at $30,000. Bessemer Group Inc. increased its position in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital during the 3rd quarter worth $31,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Rithm Capital in the 4th quarter worth about $31,000. Institutional investors own 44.92% of the company’s stock.

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.