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

Shares of Rithm Capital Corp. (NYSE:RITM) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.35.

RITM has been the topic of several research reports. Capital One Financial set a $12.50 target price on Rithm Capital in a research note on Thursday, April 9th. JonesTrading restated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research note on Tuesday, April 28th. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research note on Sunday. Piper Sandler lowered their target price on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings lowered Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $9.37 on Friday. The business’s fifty day simple moving average is $9.46 and its 200 day simple moving average is $10.16. The firm has a market capitalization of $5.23 billion, a P/E ratio of 8.60 and a beta of 1.14. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last issued 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 business had revenue of $1.38 billion for 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%. As a group, analysts anticipate that Rithm Capital will post 2.27 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be paid a $0.25 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 10.7%. Rithm Capital’s payout ratio is presently 91.74%.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rithm Capital

Hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC grew its position 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 purchasing an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at $31,000. FNY Investment Advisers LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at $31,000. Finally, Torren Management LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at $35,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

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.