Rithm Capital Corp. (NYSE:RITM) Receives $10.50 Consensus Target Price from Analysts

Posted by on Apr 24th, 2023

Rithm Capital Corp. (NYSE:RITM – Get Rating) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.50.

Separately, JMP Securities cut their price objective on Rithm Capital from $11.00 to $9.00 in a research note on Friday.

Institutional Trading of Rithm Capital

A number of hedge funds have recently made changes to their positions in the business. Coastal Bridge Advisors LLC bought a new position in Rithm Capital in the fourth quarter valued at about $86,000. Van ECK Associates Corp bought a new position in shares of Rithm Capital in the 4th quarter valued at $9,637,000. Dakota Wealth Management acquired a new stake in shares of Rithm Capital during the fourth quarter valued at about $204,000. Duality Advisers LP acquired a new stake in shares of Rithm Capital during the fourth quarter valued at about $267,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in shares of Rithm Capital during the fourth quarter valued at about $138,000. 47.30% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

RITM opened at $8.04 on Friday. The stock’s 50-day moving average price is $8.41 and its 200 day moving average price is $8.53. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.09. Rithm Capital has a 12-month low of $6.86 and a 12-month high of $11.75. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 4.49 and a beta of 1.78.

Rithm Capital (NYSE:RITM – Get Rating) last issued its earnings results on Wednesday, February 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $762.40 million for the quarter, compared to analysts’ expectations of $750.14 million. Rithm Capital had a net margin of 20.19% and a return on equity of 12.04%. During the same quarter last year, the company earned $0.40 earnings per share. As a group, sell-side analysts expect that Rithm Capital will post 1.36 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 12.44%. The ex-dividend date of this dividend is Thursday, March 30th. Rithm Capital’s payout ratio is 55.87%.

About Rithm Capital

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Rithm Capital Corp. is a real estate investment trust, which aims to generate long-term value for investors by investing in mortgage related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate.

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Analyst Recommendations for Rithm Capital (NYSE:RITM)

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