Rithm Capital Corp. (NYSE:RITM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $13.20.

Several brokerages have recently issued reports on RITM. Wedbush decreased their price objective on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Piper Sandler reduced their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. JonesTrading reiterated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a report on Tuesday, April 28th. Finally, Compass Point assumed coverage on shares of Rithm Capital in a research report on Monday, June 8th. They issued a “buy” rating and a $14.00 price objective on the stock.

Insider Buying and Selling

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the sale, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in shares of Rithm Capital during the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Rithm Capital during the fourth quarter worth approximately $31,000. Torren Management LLC acquired a new position in Rithm Capital in the fourth quarter valued at approximately $35,000. Altshuler Shaham Ltd boosted its holdings in Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Rithm Capital in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.0%

Shares of NYSE RITM opened at $10.37 on Monday. The stock has a market cap of $5.79 billion, a P/E ratio of 17.28 and a beta of 1.14. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.19. Rithm Capital has a 12-month low of $8.43 and a 12-month high of $12.74. The business’s fifty day simple moving average is $9.46 and its 200-day simple moving average is $9.73.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. As a group, equities analysts predict that Rithm Capital will post 2.26 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.6%. Rithm Capital’s payout ratio is presently 166.67%.

Rithm Capital Company Profile

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.