Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.94

Shares of Rithm Capital Corp. (NYSE:RITMGet Free Report) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.94.

Several research analysts have commented on RITM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th.

Check Out Our Latest Analysis on RITM

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,525 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Rithm Capital in the third quarter valued at $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital during the 3rd quarter worth $43,000. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital in the 3rd quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital in the 3rd quarter valued at about $73,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.4 %

Shares of NYSE:RITM opened at $10.83 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a 50 day simple moving average of $10.88 and a 200-day simple moving average of $11.10. The company has a market capitalization of $5.63 billion, a PE ratio of 10.94 and a beta of 1.80. Rithm Capital has a twelve month low of $9.97 and a twelve month high of $12.02.

Rithm Capital (NYSE:RITMGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, equities analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 101.01%.

About Rithm Capital

(Get Free Report

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.

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Analyst Recommendations for Rithm Capital (NYSE:RITM)

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