Rithm Capital Corp. (NYSE:RITM - Get Free Report) was the target of some unusual options trading on Thursday. Stock investors acquired 11,613 call options on the company. This represents an increase of 398% compared to the average daily volume of 2,330 call options.
Rithm Capital Price Performance
Shares of RITM traded up $0.08 during mid-day trading on Thursday, hitting $11.25. The company's stock had a trading volume of 2,289,039 shares, compared to its average volume of 3,711,777. Rithm Capital has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 11.36 and a beta of 1.79. The firm has a 50-day moving average price of $10.96 and a 200 day moving average price of $11.10. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.
Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share 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 business had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.58 earnings per share. On average, research analysts predict that Rithm Capital will post 1.95 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.89%. Rithm Capital's payout ratio is presently 101.01%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on RITM shares. Keefe, Bruyette & Woods raised their price objective on 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. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $12.94.
Check Out Our Latest Stock Analysis on RITM
Hedge Funds Weigh In On Rithm Capital
Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% during 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 in the last quarter. 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. Soros Fund Management LLC purchased a new position in shares of Rithm Capital during the 3rd quarter valued at $23,835,000. Seven Grand Managers LLC acquired a new position in shares of Rithm Capital in the third quarter worth $11,918,000. Finally, Maven Securities LTD acquired a new position in shares of Rithm Capital in the third quarter worth $11,350,000. Hedge funds and other 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.
Further Reading
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