Rhythm Capital Corp. (NYSE:RITM) Receives Consensus ‘Moderate Buy’ Rating from Brokerages

Stocks of Rithm Capital Corp. (NYSE:RITM- Get a rating) received a consensus “moderate buy” recommendation from the eight analysts who cover the stock, Marketbeat reports. One research analyst rated the stock with a sell recommendation and six gave the company a buy recommendation. The 1-year average price target among brokers who have hedged the stock over the past year is $11.80.

A number of research analysts have recently published reports on RITM stocks. Raymond James lowered his price target on Rithm Capital shares from $13.00 to $12.50 and set an “outperform” rating for the company in a Wednesday, Aug. 17 research note. Piper Sandler downgraded Rithm Capital shares from ‘neutral’ to ‘underweight’ and lowered her price target for the stock from $12.00 to $10.00 in a research report Monday, June 13. Finally, Credit Suisse Group lowered its price target on Rithm Capital shares to $12.00 in a Friday, July 22 research report.

Rhythm Capital Stock down 2.9%

NYSE:RITM opened at $8.17 on Friday. The company’s fifty-day moving average price is $9.73 and its 200-day moving average price is $10.17. Rithm Capital has a 1-year low of $7.97 and a 1-year high of $11.81. The company has a market capitalization of $3.81 billion, a P/E ratio of 4.11 and a beta of 1.70. The company has a debt ratio of 0.09, a current ratio of 0.52 and a quick ratio of 0.52.

Rithm Capital (NYSE: RITM – Get a rating) last released its quarterly results on Tuesday, August 2. The real estate investment trust reported earnings per share of $0.31 for the quarter, beating the consensus estimate of $0.29 by $0.02. Rithm Capital had a net margin of 20.51% and a return on equity of 13.69%. During the same period of the previous year, the company achieved EPS of $0.31. As a group, equity research analysts expect Rithm Capital to post EPS of 1.24 for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28. Investors of record on Tuesday, October 4 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 12.24%. The ex-dividend date is Monday, October 3. Rithm Capital’s dividend payout ratio (DPR) is currently 50.25%.

Hedge funds weigh on Rithm Capital

Several institutional investors and hedge funds have recently changed their positions in the company. SG Americas Securities LLC bought a new stake in Rithm Capital in the first quarter at a value of $1,514,000. DE Shaw & Co. Inc. increased its equity stake in Rithm Capital by 1.3% during the fourth quarter. DE Shaw & Co. Inc. now owns 887,975 shares of the real estate investment trust valued at $9,510,000 after purchasing an additional 11,597 shares during the period. Crescent Grove Advisors LLC acquired a new position in Rithm Capital stock during the first quarter worth $205,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Rithm Capital by 1,507.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,259,186 shares of the real estate investment trust worth $13,826,000 after acquiring an additional 1,180,866 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Rithm Capital by 10.1% during the first quarter. Nisa Investment Advisors LLC now owns 241,960 shares of the real estate investment trust worth $2,657,000 after acquiring an additional 22,242 shares during the period. 46.51% of the shares are currently held by hedge funds and other institutional investors.

Rithm Capital Company Profile

(Get a rating)

Rhythm Capital Corp. provides capital and services to the real estate and financial services industries in the United States. Its investment portfolio includes mortgage servicing assets, residential securities and loans, and consumer loans. It is considered a real estate investment trust for federal income tax purposes.

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Analyst Recommendations for Rithm Capital (NYSE:RITM)

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