Rithm Capital (NYSE:RITM) Given New $12.00 Price Target at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its target price hoisted by Keefe, Bruyette & Woods from $11.50 to $12.00 in a research report report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on RITM. Royal Bank of Canada reissued an outperform rating and set a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. JMP Securities raised their price target on shares of 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 raised their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research report on Thursday, February 22nd. B. Riley raised their price target on shares of Rithm Capital from $12.00 to $13.00 and gave the company a buy rating in a research report on Wednesday, February 21st. Finally, Wedbush reissued an outperform rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital presently has an average rating of Buy and a consensus target price of $12.00.

Rithm Capital Price Performance

RITM stock opened at $10.54 on Tuesday. The firm has a 50 day moving average price of $10.79 and a 200-day moving average price of $10.39. Rithm Capital has a 52-week low of $7.59 and a 52-week high of $11.33. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.58 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The firm had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. During the same period last year, the business earned $0.33 earnings per share. Equities research analysts forecast that Rithm Capital will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

Institutional Investors Weigh In On Rithm Capital

A number of large investors have recently added to or reduced their stakes in RITM. Jump Financial LLC boosted its stake in shares of Rithm Capital by 668.7% during the 3rd quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 187,460 shares during the last quarter. Lewis Asset Management LLC purchased a new position in shares of Rithm Capital during the 4th quarter worth $2,813,000. Capula Management Ltd purchased a new position in shares of Rithm Capital during the 3rd quarter worth $910,000. Ritholtz Wealth Management purchased a new position in shares of Rithm Capital during the 4th quarter worth $114,000. Finally, Invesco Ltd. boosted its stake in shares of Rithm Capital by 67.0% during the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after acquiring an additional 480,769 shares during the last quarter. 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.