Rithm Capital (NYSE:RITM) Sets New 12-Month High at $11.45

Rithm Capital Corp. (NYSE:RITM) hit a new 52-week high during trading on Monday . The company traded as high as $11.45 and last traded at $11.39, with a volume of 474257 shares trading hands. The stock had previously closed at $11.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Monday, February 26th. B. Riley increased their target price on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. Finally, Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rithm Capital presently has an average rating of “Buy” and a consensus price target of $12.05.

Rithm Capital Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $5.47 billion, a PE ratio of 7.54 and a beta of 1.80. The company has a 50 day moving average of $10.97 and a two-hundred day moving average of $10.59.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. During the same period last year, the business earned $0.33 EPS. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were given a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.84%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Rithm Capital

A number of institutional investors have recently modified their holdings of RITM. Norges Bank purchased a new stake in Rithm Capital during the 4th quarter valued at about $63,896,000. Northern Trust Corp boosted its stake in Rithm Capital by 69.3% during the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after purchasing an additional 1,567,489 shares during the last quarter. MGO One Seven LLC increased its holdings in shares of Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 751,895 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Rithm Capital by 360.6% in the third quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after purchasing an additional 749,058 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after purchasing an additional 607,413 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.