Rithm Capital Corp. (NYSE:RITM) Receives $11.63 Average Target Price from Analysts

Shares of Rithm Capital Corp. (NYSE:RITMGet Free Report) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $11.63.

RITM has been the topic of several recent research reports. JMP Securities boosted their price target on Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, January 18th. Jonestrading upgraded Rithm Capital from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, October 27th. Finally, UBS Group began coverage on shares of Rithm Capital in a research report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 price objective for the company.

Read Our Latest Report on Rithm Capital

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 42,301,286 shares of the real estate investment trust’s stock valued at $464,468,000 after purchasing an additional 321,279 shares in the last quarter. BlackRock Inc. lifted its stake in Rithm Capital by 5.9% in the second quarter. BlackRock Inc. now owns 26,305,368 shares of the real estate investment trust’s stock worth $245,955,000 after purchasing an additional 1,454,409 shares during the last quarter. Bank of America Corp DE lifted its stake in Rithm Capital by 23.2% in the first quarter. Bank of America Corp DE now owns 9,832,254 shares of the real estate investment trust’s stock worth $78,658,000 after purchasing an additional 1,852,760 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Rithm Capital by 7.0% during the second quarter. Geode Capital Management LLC now owns 9,087,373 shares of the real estate investment trust’s stock valued at $85,063,000 after acquiring an additional 594,546 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Rithm Capital by 2.5% during the first quarter. State Street Corp now owns 8,129,642 shares of the real estate investment trust’s stock valued at $67,056,000 after acquiring an additional 195,356 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Rithm Capital Trading Up 0.2 %

NYSE:RITM opened at $10.58 on Friday. The firm has a market cap of $5.11 billion, a PE ratio of 7.30 and a beta of 1.83. The stock has a fifty day moving average price of $10.70 and a 200 day moving average price of $10.11. Rithm Capital has a 12-month low of $7.40 and a 12-month high of $11.15. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.09.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.45%. The ex-dividend date was Thursday, December 28th. Rithm Capital’s payout ratio is 68.97%.

About Rithm Capital

(Get Free Report

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.

See Also

Analyst Recommendations for Rithm Capital (NYSE:RITM)

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