Rithm Capital (NYSE:RITM) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Rithm Capital Corp. (NYSE:RITM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.54 and traded as low as $9.12. Rithm Capital shares last traded at $9.1450, with a volume of 5,574,776 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RITM shares. Citigroup reissued an “outperform” rating on shares of Rithm Capital in a research report on Wednesday. JonesTrading restated a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a report on Tuesday, April 28th. Wedbush dropped their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Capital One Financial set a $12.50 target price on shares of Rithm Capital in a report on Thursday, April 9th. Finally, BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Friday, April 10th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.61.

Rithm Capital Trading Up 3.1%

The company has a market cap of $5.18 billion, a P/E ratio of 8.51 and a beta of 1.17. The stock’s 50 day moving average is $9.61 and its 200-day moving average is $10.52. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. Research analysts anticipate that Rithm Capital Corp. will post 2.27 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.8%. The ex-dividend date was Monday, April 6th. Rithm Capital’s dividend payout ratio is 91.74%.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently made changes to their positions in RITM. CoreCap Advisors LLC grew its holdings in Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Rithm Capital during the 4th quarter valued at approximately $26,000. Bessemer Group Inc. grew its holdings in Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Rithm Capital during the 3rd quarter valued at approximately $31,000. Finally, FNY Investment Advisers LLC purchased a new stake in Rithm Capital during the 4th quarter valued at approximately $31,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.