Rithm Capital Corp. (NYSE:RITM) Declares Quarterly Dividend of $0.25

Rithm Capital Corp. (NYSE:RITM - Get Free Report) announced a quarterly dividend on Friday, September 20th, NASDAQ reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, November 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend is Tuesday, October 1st.

Rithm Capital has raised its dividend payment by an average of 26.0% annually over the last three years. Rithm Capital has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 53.5%.

Rithm Capital Stock Up 0.5 %

Shares of RITM traded up $0.06 on Friday, reaching $11.32. The stock had a trading volume of 9,151,279 shares, compared to its average volume of 3,339,092. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 7.55 and a beta of 1.80. The company has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $11.21. Rithm Capital has a 12-month low of $8.87 and a 12-month high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. Rithm Capital's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. Sell-side analysts predict that Rithm Capital will post 1.82 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on RITM. Wedbush restated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. Finally, JMP Securities increased their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.60.

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.