Rithm Capital Corp. (NYSE:RITM - Get Free Report)'s share price rose 3% during mid-day trading on Monday . The stock traded as high as $11.40 and last traded at $11.48. Approximately 1,028,494 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,557,446 shares. The stock had previously closed at $11.14.
Wall Street Analysts Forecast Growth
RITM has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.25.
Read Our Latest Stock Report on Rithm Capital
Rithm Capital Stock Up 1.1 %
The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The stock's 50-day simple moving average is $11.70 and its 200 day simple moving average is $11.23. The firm has a market cap of $6.02 billion, a P/E ratio of 6.92 and a beta of 1.83.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.
Rithm Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.65%. The ex-dividend date is Monday, March 31st. Rithm Capital's dividend payout ratio is presently 59.88%.
Institutional Trading of Rithm Capital
Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Rithm Capital during the fourth quarter valued at approximately $76,082,000. JPMorgan Chase & Co. boosted its holdings in 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 worth $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Rithm Capital by 48.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after acquiring an additional 2,136,342 shares in the last quarter. Soros Fund Management LLC purchased a new stake in shares of Rithm Capital in the third quarter valued at about $23,835,000. Finally, First Trust Advisors LP lifted its position in shares of Rithm Capital by 78.3% during the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock valued at $35,793,000 after purchasing an additional 1,451,829 shares in the last quarter. Institutional investors own 44.92% of the company's stock.
Rithm Capital Company Profile
(
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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