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

Rithm Capital Corp. (NYSE:RITM) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.50.

A number of brokerages have recently issued reports on RITM. Wedbush assumed coverage on Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price for the company. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. JonesTrading restated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price target (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently bought and sold shares of RITM. CoreCap Advisors LLC boosted its stake in 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 worth $25,000 after purchasing an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Rithm Capital during the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. bought a new stake in Rithm Capital during the 2nd quarter worth about $30,000. Bessemer Group Inc. increased its position in Rithm Capital by 658.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,306 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Rithm Capital in the third quarter worth about $31,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 1.1%

Shares of RITM stock opened at $10.47 on Monday. The firm has a fifty day moving average of $11.14 and a 200-day moving average of $11.41. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 10.06 and a beta of 1.20. Rithm Capital has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. On average, equities research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s payout ratio is presently 96.15%.

Rithm Capital Company Profile

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.