Rithm Capital Corp. (NYSE:RITM) Stock Has Consensus Price Target of $12.80

Shares of Rithm Capital Corp. (NYSE:RITM) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.80.

A number of research firms have recently weighed in on RITM. UBS Group reduced their target price on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Wall Street Zen raised shares of Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Wedbush initiated coverage on Rithm Capital in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $10.00 price objective on the stock. BTIG Research decreased their price target on Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Weiss Ratings lowered shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd.

Rithm Capital Stock Down 1.1%

Rithm Capital stock opened at $9.30 on Friday. Rithm Capital has a fifty-two week low of $8.31 and a fifty-two week high of $12.15. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.58 and a current ratio of 0.83. The firm’s 50-day simple moving average is $9.31 and its 200 day simple moving average is $9.72. The stock has a market cap of $5.19 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.58 and a beta of 1.16.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.47 billion. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. Research analysts predict that Rithm Capital will post 2.32 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 10.8%. Rithm Capital’s dividend payout ratio is presently 158.73%.

Insider Buying and Selling at Rithm Capital

In other news, Director Peggy Hebard sold 14,520 shares of Rithm Capital stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the sale, the director owned 82,259 shares in the company, valued at approximately $837,396.62. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its position in Rithm Capital by 31.3% during the 3rd quarter. Covestor Ltd now owns 16,488 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 3,927 shares during the period. SMH Capital Advisors Inc. bought a new position in Rithm Capital during the 3rd quarter valued at approximately $591,000. Sage Rhino Capital LLC increased its position in Rithm Capital by 8.5% during the 3rd quarter. Sage Rhino Capital LLC now owns 29,007 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 2,281 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Rithm Capital by 82.7% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 31,602 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 14,303 shares during the last quarter. Finally, Sage Investment Counsel LLC lifted its stake in shares of Rithm Capital by 8.6% in the third quarter. Sage Investment Counsel LLC now owns 50,700 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 4,000 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Company Profile

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.