Rithm Capital Sees Unusually High Options Volume (NYSE:RITM)

Posted by Defense World Staff on Oct 20th, 2023

Rithm Capital Corp. (NYSE:RITM – Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders acquired 4,882 put options on the company. This is an increase of approximately 55% compared to the average daily volume of 3,141 put options.

Analysts Set New Price Targets

RITM has been the topic of a number of recent analyst reports. JMP Securities increased their target price on Rithm Capital from $10.00 to $10.50 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Compass Point lifted their target price on Rithm Capital from $11.00 to $12.00 in a research report on Monday, October 2nd. Piper Sandler upped their price objective on Rithm Capital from $10.00 to $10.50 in a research report on Monday, August 7th. Raymond James increased their target price on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Finally, Wedbush restated an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Thursday, August 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.57.

Get Our Latest Report on Rithm Capital

Rithm Capital Stock Down 2.1 %

Shares of RITM opened at $9.07 on Friday. The firm’s 50-day simple moving average is $9.72 and its 200 day simple moving average is $9.12. Rithm Capital has a 52 week low of $7.40 and a 52 week high of $10.45. The firm has a market cap of $4.38 billion, a P/E ratio of 6.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Rithm Capital (NYSE:RITM – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.65 million. Rithm Capital had a net margin of 20.61% and a return on equity of 14.96%. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. On average, analysts forecast that Rithm Capital will post 1.64 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.03%. The ex-dividend date of this dividend is Thursday, September 28th. Rithm Capital’s payout ratio is currently 76.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Rithm Capital by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 713,031 shares of the real estate investment trust’s stock worth $7,830,000 after purchasing an additional 16,278 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Rithm Capital by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 1,880,926 shares of the real estate investment trust’s stock valued at $20,650,000 after acquiring an additional 369,564 shares in the last quarter. Roundview Capital LLC acquired a new position in shares of Rithm Capital during the first quarter valued at about $165,000. US Bancorp DE increased its holdings in shares of Rithm Capital by 79.1% during the first quarter. US Bancorp DE now owns 40,483 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 17,879 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its holdings in shares of Rithm Capital by 49.8% during the first quarter. Cetera Advisor Networks LLC now owns 20,101 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 6,682 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Company Profile

(Get Free Report)

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.