Rithm Capital (NYSE:RITM) Issues Earnings Results, Beats Expectations By $0.16 EPS

Rithm Capital (NYSE:RITM) issued its earnings results on Thursday. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16, Zacks reports. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%.

Rithm Capital Stock Down 0.6 %

Shares of RITM stock opened at $11.84 on Friday. The firm’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $11.14. Rithm Capital has a 1 year low of $10.06 and a 1 year high of $12.02. 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 firm has a market capitalization of $6.15 billion, a P/E ratio of 7.09 and a beta of 1.79.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Piper Sandler increased their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $12.94.

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.