Rithm Capital (NYSE:RITM) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Rithm Capital (NYSE:RITM) from a sell rating to a hold rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the company. 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 reduced their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. UBS Group decreased their price objective on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Citigroup restated an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Rithm Capital Trading Up 0.1%

RITM opened at $9.88 on Friday. The business has a 50 day simple moving average of $9.27 and a two-hundred day simple moving average of $9.84. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 16.47 and a beta of 1.14. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.90 and a quick ratio of 1.28. Rithm Capital has a one year low of $8.43 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. Analysts predict that Rithm Capital will post 2.22 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Rithm Capital’s dividend payout ratio is presently 166.67%.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the transaction, the director owned 44,248 shares in the company, valued at approximately $409,294. This represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Rithm Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC lifted its position 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 acquiring an additional 1,143 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Rithm Capital in the fourth quarter worth about $26,000. FNY Investment Advisers LLC bought a new position in shares of Rithm Capital during the fourth quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Rithm Capital during the fourth quarter valued at approximately $31,000. Finally, Altshuler Shaham Ltd lifted its holdings 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 valued at $34,000 after purchasing an additional 1,800 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.