Rithm Capital’s (RITM) Buy Rating Reiterated at Jones Trading

Jones Trading restated their buy rating on shares of Rithm Capital (NYSE:RITM) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $13.50 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the company. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. Royal Bank Of Canada raised their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, UBS Group raised their price objective on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Trading Down 0.1%

Shares of RITM stock opened at $10.98 on Thursday. The company has a market cap of $5.82 billion, a P/E ratio of 7.57 and a beta of 1.31. The stock has a 50 day simple moving average of $11.60 and a two-hundred day simple moving average of $11.55. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. Rithm Capital has a fifty-two week low of $9.13 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $314.93 million during the quarter, compared to the consensus estimate of $1.07 billion. Rithm Capital had a return on equity of 19.17% and a net margin of 17.08%. Research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. Rithm Capital’s payout ratio is presently 76.92%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Rithm Capital by 11.5% during the second quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock valued at $117,426,000 after buying an additional 1,052,130 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Rithm Capital during the second quarter valued at approximately $96,027,000. Geode Capital Management LLC boosted its position in shares of Rithm Capital by 1.1% during the second quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock valued at $101,528,000 after buying an additional 98,307 shares during the last quarter. Norges Bank purchased a new position in shares of Rithm Capital during the second quarter valued at approximately $72,762,000. Finally, Wellington Management Group LLP boosted its position in shares of Rithm Capital by 36.3% during the first quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock valued at $56,194,000 after buying an additional 1,307,276 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.