Rithm Capital (NYSE:RITM) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Rithm Capital (NYSE:RITM) in a research note published on Friday morning,Benzinga reports. Wedbush currently has a $14.00 price objective on the real estate investment trust’s stock.

RITM has been the topic of several other reports. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, 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 note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Stock Down 2.1 %

NYSE:RITM opened at $11.39 on Friday. Rithm Capital has a 1-year low of $10.38 and a 1-year high of $12.20. The company has a market capitalization of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83. The firm’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.23. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. On average, equities analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is presently 59.88%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital in the 3rd quarter worth approximately $43,000. Quarry LP grew its holdings in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its position in Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,211 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in Rithm Capital in the fourth quarter worth about $81,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.