Rithm Capital Corp. (NYSE:RITM – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.85 and last traded at $11.85, with a volume of 1027530 shares. The stock had previously closed at $11.71.
Analysts Set New Price Targets
A number of research firms have recently weighed in on RITM. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. B. Riley reiterated a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. Finally, Piper Sandler boosted their price target on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.55.
Rithm Capital Stock Up 1.1 %
The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 7.89 and a beta of 1.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average is $11.19 and its two-hundred day moving average is $11.06.
Rithm Capital (NYSE:RITM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Equities analysts anticipate that Rithm Capital Corp. will post 1.78 EPS for the current year.
Rithm Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a yield of 8.45%. Rithm Capital’s payout ratio is 66.67%.
Institutional Investors Weigh In On Rithm Capital
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American National Bank purchased a new stake in Rithm Capital during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. lifted its stake in Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Bessemer Group Inc. acquired a new position in Rithm Capital during the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. increased its position in shares of Rithm Capital by 125.4% in the 4th 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 Rithm Capital in the fourth quarter valued at $34,000. 44.92% of the stock is owned by hedge funds and other institutional investors.
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.