Rithm Capital (NYSE:RITM) Price Target Increased to $12.00 by Analysts at Keefe, Bruyette & Woods

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

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reissued an outperform rating and issued a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. B. Riley increased their price target on Rithm Capital from $12.00 to $13.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. JMP Securities increased their price target on Rithm Capital from $10.50 to $11.00 and gave the stock a market outperform rating in a research note on Thursday, January 18th. Argus raised their target price on Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, Wedbush reaffirmed an outperform rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $12.00.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $10.82 on Tuesday. Rithm Capital has a 1-year low of $7.59 and a 1-year high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The business’s fifty day moving average price is $10.82 and its two-hundred day moving average price is $10.41. The firm has a market capitalization of $5.24 billion, a PE ratio of 9.84 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, research analysts expect that Rithm Capital will post 1.69 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be given a $0.25 dividend. 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 9.24%. Rithm Capital’s dividend payout ratio (DPR) is 90.91%.

Hedge Funds Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its position in shares of Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares during the period. American National Bank acquired a new position in shares of Rithm Capital in the 4th quarter valued at $27,000. Raleigh Capital Management Inc. boosted its position in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the period. GAMMA Investing LLC acquired a new position in shares of Rithm Capital in the 4th quarter valued at $34,000. Finally, Castleview Partners LLC boosted its position in shares of Rithm Capital by 690.6% in the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 3,508 shares during the period. Institutional investors and hedge funds 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.