Rithm Capital’s (RITM) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Rithm Capital (NYSE:RITM) in a research note released on Tuesday, Benzinga reports. They currently have a $13.00 target price on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler raised their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a neutral rating in a research note on Tuesday, May 14th. JMP Securities boosted their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a market outperform rating in a report on Friday, July 19th. Wedbush reiterated an outperform rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, May 9th. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $12.00 to $12.50 and gave the company an outperform rating in a report on Thursday, May 2nd. Finally, B. Riley reissued a buy rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Rithm Capital currently has an average rating of Moderate Buy and a consensus price target of $12.55.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.43 on Tuesday. Rithm Capital has a one year low of $8.87 and a one year high of $11.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $11.12 and a 200 day moving average of $11.00. The firm has a market cap of $5.53 billion, a PE ratio of 7.62 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.62 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts predict that Rithm Capital will post 1.78 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a yield of 8.75%. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds have recently bought and sold shares of RITM. International Assets Investment Management LLC increased its stake in Rithm Capital by 1,006.6% during the fourth quarter. International Assets Investment Management LLC now owns 157,972 shares of the real estate investment trust’s stock worth $1,687,000 after purchasing an additional 143,697 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Rithm Capital by 177.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,882 shares of the real estate investment trust’s stock worth $501,000 after buying an additional 29,960 shares during the period. Cerity Partners LLC acquired a new stake in Rithm Capital during the 4th quarter worth approximately $737,000. Mackenzie Financial Corp boosted its position in Rithm Capital by 48.4% in the 4th quarter. Mackenzie Financial Corp now owns 112,492 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 36,673 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Rithm Capital in the fourth quarter worth $157,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.