Rithm Capital Corp. (NYSE:RITM) Declares Quarterly Dividend of $0.25

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.63%.

Rithm Capital has raised its dividend by an average of 3.6% per year over the last three years. Rithm Capital has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Price Performance

NYSE RITM traded down $0.25 on Friday, hitting $11.59. The stock had a trading volume of 9,048,041 shares, compared to its average volume of 3,889,524. The firm has a 50-day moving average of $11.62 and a 200-day moving average of $11.24. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital has a 52-week low of $10.38 and a 52-week high of $12.19. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. 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. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities analysts expect that Rithm Capital will post 1.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler upped 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. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average target price of $13.25.

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.