Rithm Capital Corp. (RITM) To Go Ex-Dividend on July 2nd

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Monday, June 22nd. Investors of record on Thursday, July 2nd will be given a dividend of 0.25 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Thursday, July 2nd.

Rithm Capital has increased its dividend by an average of 0.1%annually over the last three years. Rithm Capital has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE RITM opened at $9.42 on Tuesday. Rithm Capital has a 52 week low of $8.43 and a 52 week high of $12.74. The business’s 50 day moving average price is $9.45 and its 200 day moving average price is $10.14. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. The firm has a market cap of $5.26 billion, a P/E ratio of 8.64 and a beta of 1.14.

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

About Rithm Capital

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.