Rithm Capital (NYSE:RITM) Earns "Market Outperform" Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Rithm Capital (NYSE:RITM - Free Report) in a report published on Thursday morning,Benzinga reports. JMP Securities currently has a $12.50 price target on the real estate investment trust's stock.

RITM has been the subject of several other research reports. B. Riley raised Rithm Capital to a "strong-buy" rating in a 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 company an "outperform" rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rithm Capital has an average rating of "Buy" and an average price target of $12.94.

Rithm Capital Stock Up 0.3 %

Shares of NYSE RITM traded up $0.04 during mid-day trading on Thursday, reaching $11.32. 2,921,215 shares of the company's stock were exchanged, compared to its average volume of 3,767,227. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $11.12. Rithm Capital has a twelve month low of $9.97 and a twelve month high of $12.02. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 11.43 and a beta of 1.79.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results 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. 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 analysts' expectations of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, equities analysts expect that Rithm Capital will post 1.95 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.84%. Rithm Capital's payout ratio is 101.01%.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock worth $60,892,000 after purchasing an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Van ECK Associates Corp grew its position in 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 worth $21,163,000 after acquiring an additional 343,678 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Rithm Capital in the 3rd quarter worth about $1,476,000. Finally, Waterfall Asset Management LLC acquired a new stake in shares of Rithm Capital during the second quarter valued at about $2,209,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.