Rithm Capital (NYSE:RITM) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Rithm Capital (NYSE:RITM) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12, RTT News reports. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 EPS.

Rithm Capital Stock Performance

RITM stock traded down $0.04 during midday trading on Friday, hitting $10.55. 2,342,592 shares of the stock traded hands, compared to its average volume of 3,492,063. The stock’s fifty day simple moving average is $11.22 and its 200-day simple moving average is $11.17. Rithm Capital has a 1-year low of $9.61 and a 1-year high of $12.02. The firm has a market cap of $5.10 billion, a P/E ratio of 10.79 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.48%. Rithm Capital’s dividend payout ratio is presently 101.01%.

Analysts Set New Price Targets

RITM has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

Rithm Capital Company Profile

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.