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

Rithm Capital Corp. (NYSE:RITM - Get Free Report) declared a quarterly dividend on Friday, March 21st, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.56%. The ex-dividend date is Monday, March 31st.

Rithm Capital has raised its dividend by an average of 3.6% annually over the last three years. Rithm Capital has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $2.06 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 48.5%.

Rithm Capital Stock Performance

RITM stock traded down $0.11 during mid-day trading on Tuesday, reaching $11.68. 3,479,741 shares of the stock traded hands, compared to its average volume of 3,442,447. The firm has a market capitalization of $6.08 billion, a PE ratio of 6.99 and a beta of 1.83. The business has a 50-day moving average of $11.66 and a two-hundred day moving average of $11.23. Rithm Capital has a 52 week low of $10.38 and a 52 week high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, equities analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

RITM has been the subject of a number of research reports. JMP Securities reissued a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler increased their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Finally, B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.25.

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.