Rithm Capital (NYSE:RITM) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of Rithm Capital (NYSE:RITM) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on RITM. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Trading Down 0.4 %

RITM opened at $10.96 on Tuesday. The stock has a market capitalization of $5.70 billion, a P/E ratio of 11.07 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The firm’s fifty day simple moving average is $10.92 and its 200 day simple moving average is $11.10.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, research analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.12%. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Institutional Trading of Rithm Capital

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,183 shares in the last quarter. Empowered Funds LLC increased its position in Rithm Capital by 8.3% during the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 1,216 shares during the period. Founders Financial Alliance LLC raised its stake in Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 1,286 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 1,481 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Rithm Capital by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 1,508 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Company Profile

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.