Rithm Capital’s (RITM) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Rithm Capital (NYSE:RITM) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $11.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the company. Jonestrading boosted their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. B. Riley upped their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Wedbush reiterated an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. Royal Bank of Canada reissued an outperform rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an outperform rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Rithm Capital currently has an average rating of Buy and an average price target of $12.00.

Rithm Capital Price Performance

RITM stock opened at $10.66 on Thursday. The firm has a 50 day moving average of $10.81 and a 200-day moving average of $10.40. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.16 billion, a P/E ratio of 9.69 and a beta of 1.82. Rithm Capital has a 12 month low of $7.59 and a 12 month high of $11.33.

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

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.39%. Rithm Capital’s dividend payout ratio (DPR) is currently 90.91%.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Treasurer of the State of North Carolina increased its stake in Rithm Capital by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock worth $1,966,000 after purchasing an additional 1,070 shares during the period. Wedmont Private Capital grew its holdings in shares of Rithm Capital by 5.9% in the fourth quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 1,087 shares during the last quarter. US Bancorp DE increased its stake in shares of Rithm Capital by 5.0% in the fourth quarter. US Bancorp DE now owns 23,961 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 1,131 shares during the period. HighTower Advisors LLC raised its holdings in Rithm Capital by 0.9% during the 3rd quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust’s stock valued at $1,163,000 after buying an additional 1,139 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Rithm Capital by 15.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,200 shares during the last quarter. Institutional investors 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.