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

Rithm Capital Corp. (NYSE:RITM - Get Free Report) declared a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 annualized dividend and a yield of 8.94%.

Rithm Capital has increased its dividend payment by an average of 26.0% per year over the last three years. Rithm Capital has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $1.89 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 52.9%.

Rithm Capital Trading Up 0.6 %

Shares of NYSE:RITM traded up $0.07 during mid-day trading on Monday, hitting $11.19. The company had a trading volume of 2,741,224 shares, compared to its average volume of 3,499,762. The company has a market capitalization of $5.81 billion, a PE ratio of 11.30 and a beta of 1.80. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The firm has a fifty day moving average price of $10.84 and a 200 day moving average price of $11.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, research analysts forecast that Rithm Capital will post 1.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RITM shares. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Finally, Wedbush restated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

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.

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