Rithm Capital (NYSE:RITM) Hits New 52-Week High – Time to Buy?

Rithm Capital Corp. (NYSE:RITM) reached a new 52-week high on Thursday . The stock traded as high as $12.10 and last traded at $12.08, with a volume of 310153 shares. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RITM. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler boosted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.07.

Rithm Capital Stock Performance

The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm’s 50 day moving average is $11.42 and its 200-day moving average is $11.22. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 7.27 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.24%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is presently 59.88%.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently modified their holdings of RITM. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Rithm Capital during the 4th quarter worth $4,528,000. AlphaCore Capital LLC lifted its position in Rithm Capital by 5.0% during the 4th quarter. AlphaCore Capital LLC now owns 31,500 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 1,500 shares during the last quarter. Neo Ivy Capital Management lifted its position in Rithm Capital by 59.4% during the 4th quarter. Neo Ivy Capital Management now owns 207,258 shares of the real estate investment trust’s stock worth $2,244,000 after acquiring an additional 77,204 shares during the last quarter. PharVision Advisers LLC acquired a new position in Rithm Capital during the 4th quarter worth $127,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rithm Capital by 17.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,381,920 shares of the real estate investment trust’s stock worth $14,966,000 after acquiring an additional 208,875 shares during the last quarter. 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.