Rithm Capital Corp. (NYSE:RITM) Receives $13.35 Consensus PT from Brokerages

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.20.

Several equities research analysts recently issued reports on RITM shares. Citizens Jmp lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. UBS Group decreased their target price on Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, April 10th. BTIG Research lowered their price target on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Capital One Financial set a $12.50 price target on Rithm Capital in a research report on Thursday, April 9th. Finally, Citigroup reissued an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th.

Insider Activity at Rithm Capital

In other news, Director David Saltzman sold 80,922 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director owned 44,248 shares of the company’s stock, valued at $409,294. This represents a 64.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by insiders.

Institutional Trading of Rithm Capital

Hedge funds have recently made changes to their positions in the stock. LFG Wealth Partners LLC raised its holdings in shares of Rithm Capital by 10.6% during the 1st quarter. LFG Wealth Partners LLC now owns 134,854 shares of the real estate investment trust’s stock valued at $1,278,000 after buying an additional 12,916 shares in the last quarter. Western Wealth Management LLC bought a new position in Rithm Capital during the first quarter valued at approximately $62,000. Janus Henderson Group PLC grew its position in Rithm Capital by 15.6% during the first quarter. Janus Henderson Group PLC now owns 259,927 shares of the real estate investment trust’s stock valued at $2,465,000 after acquiring an additional 35,000 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Rithm Capital during the first quarter worth approximately $206,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Rithm Capital by 100.0% during the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,800 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 3.1%

Shares of Rithm Capital stock opened at $9.07 on Friday. Rithm Capital has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 8.32 and a beta of 1.14. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The company’s 50-day moving average price is $9.40 and its 200-day moving average price is $10.10.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.00 annualized dividend and a yield of 11.0%. Rithm Capital’s payout ratio is presently 91.74%.

About Rithm Capital

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.