Piper Sandler Increases Rithm Capital (NYSE:RITM) Price Target to $12.50

Rithm Capital (NYSE:RITMFree Report) had its price target lifted by Piper Sandler from $10.50 to $12.50 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on RITM. Keefe, Bruyette & Woods raised their price target 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. JMP Securities reiterated a market outperform rating and set a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. Argus raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Wedbush reiterated an outperform rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, May 9th. Finally, Royal Bank of Canada reissued an outperform rating and set a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $12.32.

View Our Latest Stock Analysis on RITM

Rithm Capital Price Performance

Shares of RITM stock opened at $11.47 on Tuesday. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 7.64 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day simple moving average is $11.06 and its 200-day simple moving average is $10.70. Rithm Capital has a fifty-two week low of $7.80 and a fifty-two week high of $11.60.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.72%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Rithm Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Rithm Capital during the first quarter valued at $170,000. Bayesian Capital Management LP purchased a new position in Rithm Capital in the 1st quarter valued at about $723,000. BlueCrest Capital Management Ltd boosted its holdings in Rithm Capital by 1.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock worth $23,823,000 after buying an additional 21,424 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rithm Capital by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock worth $2,522,000 after buying an additional 15,098 shares in the last quarter. Finally, Beck Capital Management LLC raised its holdings in shares of Rithm Capital by 5.2% during the first quarter. Beck Capital Management LLC now owns 205,234 shares of the real estate investment trust’s stock valued at $2,290,000 after acquiring an additional 10,056 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Company Profile

(Get Free Report)

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.

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