JMP Securities Raises Rithm Capital (NYSE:RITM) Price Target to $12.50

Rithm Capital (NYSE:RITM) had its price objective hoisted by JMP Securities from $11.00 to $12.50 in a research note published on Friday, Benzinga reports. The brokerage currently has a market outperform rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on RITM. Wedbush reaffirmed an outperform rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, May 9th. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the company an outperform rating in a report on Thursday, May 2nd. B. Riley reissued a buy rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Royal Bank of Canada reissued an outperform rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Finally, Piper Sandler increased their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the company a neutral rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of Moderate Buy and a consensus price target of $12.45.

Rithm Capital Price Performance

NYSE RITM opened at $11.62 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $10.93. The company has a market cap of $5.62 billion, a P/E ratio of 7.75 and a beta of 1.82. Rithm Capital has a 1 year low of $8.87 and a 1 year high of $11.79.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.61%. The ex-dividend date is Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

Institutional Trading of Rithm Capital

Several hedge funds have recently bought and sold shares of RITM. Parkside Financial Bank & Trust raised its holdings in Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the period. American National Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $27,000. Bessemer Group Inc. acquired a new stake in shares of Rithm Capital in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. raised its holdings in shares of Rithm Capital by 125.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $34,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.