Rithm Capital Corp. (NYSE:RITM - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $12.10 and last traded at $12.09, with a volume of 602407 shares traded. The stock had previously closed at $11.99.
Wall Street Analysts Forecast Growth
RITM has been the subject of several research analyst reports. Piper Sandler upped their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 7th. 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. 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 research note on Tuesday, December 3rd. Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, B. Riley upgraded shares of 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, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.94.
View Our Latest Analysis on RITM
Rithm Capital Price Performance
The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 7.17 and a beta of 1.79. The stock's fifty day moving average price is $11.24 and its 200-day moving average price is $11.16.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Equities research analysts predict that Rithm Capital Corp. will post 1.92 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.35%. Rithm Capital's payout ratio is presently 59.88%.
Hedge Funds Weigh In On Rithm Capital
Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Rithm Capital during the fourth quarter valued at approximately $76,082,000. JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% during 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 buying an additional 2,504,529 shares during the period. Azora Capital LP boosted its stake 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 period. Balyasny Asset Management L.P. grew its holdings in shares of Rithm Capital by 48.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after acquiring an additional 2,136,342 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in shares of Rithm Capital in the third quarter worth $23,835,000. Institutional investors and hedge funds own 44.92% of the company's stock.
About Rithm Capital
(
Get Free Report)
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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