Rithm Capital (NYSE:RITM) Price Target Raised to $12.50 at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its target price raised by Keefe, Bruyette & Woods from $12.00 to $12.50 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the company. Wedbush reaffirmed an outperform rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. Argus upped their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. B. Riley raised their price target on shares of Rithm Capital from $12.00 to $13.00 and gave the company a buy rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated an outperform rating and issued a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. Finally, Jonestrading boosted their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $12.05.

Rithm Capital Trading Up 0.6 %

Shares of RITM traded up $0.07 during trading on Thursday, reaching $11.32. 2,856,578 shares of the company traded hands, compared to its average volume of 2,945,595. The stock has a 50-day simple moving average of $10.95 and a 200-day simple moving average of $10.54. The stock has a market cap of $5.48 billion, a PE ratio of 7.55 and a beta of 1.80. Rithm Capital has a twelve month low of $7.59 and a twelve month high of $11.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. The company had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, analysts anticipate that Rithm Capital will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust grew its stake in Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the last quarter. American National Bank purchased a new position in shares of Rithm Capital during the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. increased its holdings in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the period. GAMMA Investing LLC purchased a new stake in Rithm Capital in the 4th quarter valued at $34,000. Finally, Castleview Partners LLC boosted its stake in Rithm Capital by 690.6% during the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 3,508 shares during the period. Institutional investors and hedge funds 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.