Rithm Capital (NYSE:RITM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Rithm Capital Corp. (NYSE:RITM) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $9.37 and traded as high as $9.43. Rithm Capital shares last traded at $9.3850, with a volume of 8,249,640 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wedbush restated an “outperform” rating and set a $10.00 price target on shares of Rithm Capital in a research note on Thursday, October 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, BTIG Research cut their target price on Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.80.

Rithm Capital Stock Up 1.8%

The firm has a 50 day moving average price of $9.37 and a 200-day moving average price of $9.75.

Rithm Capital (NYSE:RITM) last issued its earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, research analysts anticipate that Rithm Capital Corp. will post 2.32 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.7%. The ex-dividend date is Thursday, October 1st.

Insider Activity at Rithm Capital

In related news, Director Peggy Hebard sold 14,520 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the transaction, the director directly owned 82,259 shares in the company, valued at $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. grew its holdings in Rithm Capital by 82.7% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 31,602 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 14,303 shares during the period. Sage Investment Counsel LLC raised its position in Rithm Capital by 8.6% during the third quarter. Sage Investment Counsel LLC now owns 50,700 shares of the real estate investment trust’s stock valued at $453,000 after acquiring an additional 4,000 shares in the last quarter. Samalin Investment Counsel LLC lifted its holdings in Rithm Capital by 55.3% in the third quarter. Samalin Investment Counsel LLC now owns 35,035 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 12,470 shares during the period. Signaturefd LLC lifted its holdings in Rithm Capital by 15.2% in the third quarter. Signaturefd LLC now owns 58,988 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 7,776 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in Rithm Capital by 0.7% in the third quarter. Evergreen Capital Management LLC now owns 1,435,825 shares of the real estate investment trust’s stock valued at $12,822,000 after acquiring an additional 10,627 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

About Rithm Capital

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.