Rithm Capital (NYSE:RITM) Price Target Raised to $12.50 at Piper Sandler

Rithm Capital (NYSE:RITM) had its target price boosted by Piper Sandler from $11.50 to $12.50 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.84 on Friday. The firm has a market capitalization of $6.15 billion, a P/E ratio of 11.95 and a beta of 1.79. The stock has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $11.14. Rithm Capital has a 52-week low of $10.06 and a 52-week high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. As a group, analysts anticipate that Rithm Capital will post 1.95 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s payout ratio is 101.01%.

Institutional Investors Weigh In On Rithm Capital

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares during the period. Azora Capital LP increased its holdings in shares of Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after acquiring an additional 2,271,671 shares in the last quarter. Soros Fund Management LLC acquired a new stake in shares of Rithm Capital during the third quarter worth about $23,835,000. Seven Grand Managers LLC bought a new position in shares of Rithm Capital during the 3rd quarter valued at about $11,918,000. Finally, Maven Securities LTD acquired a new position in shares of Rithm Capital in the 3rd quarter valued at approximately $11,350,000. Institutional investors own 44.92% of the company’s stock.

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.