Rithm Capital Corp. (NYSE:RITM) Receives $12.94 Consensus Price Target from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM - Get Free Report) have been given a consensus recommendation of "Buy" by the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $12.94.

Several analysts have recently commented on RITM shares. Wedbush reissued an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. B. Riley raised Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st.

Institutional Investors Weigh In On Rithm Capital

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Azora Capital LP lifted its position in shares of Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock valued at $49,756,000 after buying an additional 2,271,671 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of Rithm Capital during the 3rd quarter worth $23,835,000. Seven Grand Managers LLC purchased a new stake in Rithm Capital in the 3rd quarter worth about $11,918,000. Finally, Maven Securities LTD purchased a new stake in Rithm Capital in the 3rd quarter worth about $11,350,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Up 0.7 %

RITM stock traded up $0.08 during midday trading on Friday, reaching $11.34. 3,830,368 shares of the company's stock traded hands, compared to its average volume of 3,381,936. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm's fifty day moving average price is $10.98 and its 200-day moving average price is $11.11. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 11.45 and a beta of 1.79.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts forecast that Rithm Capital will post 1.95 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.82%. Rithm Capital's payout ratio is currently 101.01%.

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.