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

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, June 22nd. Investors of record on Thursday, July 2nd will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend is Thursday, July 2nd.

Rithm Capital has increased its dividend by an average of 0.1%per year over the last three years. Rithm Capital has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $2.32 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 43.1%.

Rithm Capital Stock Down 0.6%

RITM stock opened at $9.13 on Tuesday. The firm has a 50 day moving average of $9.52 and a 200 day moving average of $10.21. The stock has a market capitalization of $5.10 billion, a PE ratio of 8.38 and a beta of 1.14. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital has a 52 week low of $8.43 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Sell-side analysts forecast that Rithm Capital will post 2.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RITM. BTIG Research dropped their price objective on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Wedbush reduced their target price on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Wall Street Zen cut Rithm Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.35.

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.