Rithm Capital Corporation (NYSE:RITM) Receives Average “Moderate Buy” Recommendation From Brokerages
Shares of Rithm Capital Corporation (NYSE: RITM – Get a rating) received a consensus “moderate buy” recommendation from the eight research firms that currently cover the stock, reports MarketBeat.com. One analyst rated the stock with a sell recommendation and six gave the company a buy recommendation. The 12-month average target price among brokerages that have issued ratings on the stock over the past year is $12.00.
A number of analysts have recently released reports on the stock. Piper Sandler downgraded Rithm Capital shares from a “neutral” rating to an “underweight” rating and lowered her target price for the stock from $12.00 to $10.00 in a research report from the Monday, June 13. StockNews.com moved Rithm Capital shares from a “hold” rating to a “buy” rating in a Monday, May 9 research report. Finally, Credit Suisse Group lowered its price target on Rithm Capital shares to $12.00 in a Friday, July 22 research report.
Rithm Capital Stock up 0.3%
Rithm Capital shares opened at $9.90 on Friday. The company’s 50-day moving average price is $10.04 and its 200-day moving average price is $10.41. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt ratio of 0.09. Rithm Capital has a 52-week low of $8.18 and a 52-week high of $11.81. The company has a market capitalization of $4.62 billion, a P/E ratio of 4.97 and a beta of 1.68.
Rithm Capital (NYSE: RITM – Get a rating) last released its quarterly earnings data on Tuesday, August 2. The real estate investment trust reported earnings per share (EPS) 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 13.84%. In the same quarter of the previous year, the company had achieved EPS of $0.31. On average, sell-side analysts expect Rithm Capital to post EPS of 1.21 for the current fiscal year.
Rithm Capital announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Investors of record on Friday, July 1 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 10.10%. The ex-dividend date was Thursday, June 30. Rithm Capital’s payout ratio is currently 50.25%.
Hedge funds weigh on Rithm Capital
A number of hedge funds and other institutional investors have recently changed their stock holdings. National Bank of Canada FI acquired a new stake in Rithm Capital during the 4th quarter for a value of approximately $42,000. Allspring Global Investments Holdings LLC acquired a new equity stake from Rithm Capital during Q4, valued at approximately $325,000. New Jersey State Joint Pension Fund D increased its holdings of Rithm Capital stock by 0.6% during the 4th quarter. New Jersey State Joint Pension Fund D now owns 477,823 shares of the real estate investment trust worth $5,118,000 after buying 2,683 additional shares in the last quarter. Yousif Capital Management LLC acquired a new equity stake in Rithm Capital during Q4 valued at approximately $220,000. Finally, CWM LLC bought a new stock position in Rithm Capital in Q4 valued at around $59,000. Institutional investors and hedge funds hold 46.48% of the company’s shares.
Rithm Capital Company Profile
New Residential Investment Corp. is a real estate investment trust that aims to generate long-term value for investors by investing in mortgage-related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Property and Lending, Consumer Lending, Mortgage Receivables and Corporates.
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