Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.67

Shares of Rithm Capital Corp. (NYSE:RITM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.67.

RITM has been the subject of several analyst reports. JMP Securities raised their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Wedbush restated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th.

Rithm Capital Price Performance

Shares of RITM stock traded up $0.12 during mid-day trading on Tuesday, hitting $10.53. The company had a trading volume of 3,572,604 shares, compared to its average volume of 3,522,103. The company has a market capitalization of $5.09 billion, a P/E ratio of 10.63 and a beta of 1.80. The stock's 50 day moving average price is $11.15 and its 200-day moving average price is $11.17. 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 has a 52-week low of $9.68 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analysts' expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. During the same quarter in the previous year, the business posted $0.58 earnings per share. Equities research analysts forecast that Rithm Capital will post 1.85 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.50%. Rithm Capital's payout ratio is presently 101.01%.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors have recently bought and sold shares of RITM. Natixis purchased a new position in shares of Rithm Capital in the 1st quarter valued at about $689,000. Waterfall Asset Management LLC purchased a new position in Rithm Capital in the 2nd quarter worth approximately $2,209,000. SG Americas Securities LLC acquired a new position in Rithm Capital during the third quarter worth $4,112,000. Van ECK Associates Corp boosted its position in shares of Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust's stock valued at $21,163,000 after acquiring an additional 343,678 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

About Rithm Capital

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.