Keefe, Bruyette & Woods Boosts Rithm Capital (NYSE:RITM) Price Target to $12.00

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

A number of other equities research analysts have also recently commented on the stock. JMP Securities lifted their price target on shares of Rithm Capital from $10.50 to $11.00 and gave the stock a market outperform rating in a report on Thursday, January 18th. Wedbush reiterated an outperform rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Monday, February 26th. Argus lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Jonestrading lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $12.00.

Rithm Capital Trading Up 1.3 %

NYSE:RITM opened at $10.66 on Tuesday. 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 stock has a market capitalization of $5.16 billion, a PE ratio of 9.69 and a beta of 1.82. The firm’s 50 day moving average is $10.81 and its 200 day moving average is $10.40. Rithm Capital has a 12 month low of $7.59 and a 12 month high of $11.33.

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

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be given a dividend of $0.25 per share. The ex-dividend date 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC purchased a new position in Rithm Capital in the fourth quarter worth $50,728,000. Norges Bank purchased a new position in Rithm Capital in the fourth quarter worth $63,896,000. Nan Shan Life Insurance Co. Ltd. purchased a new position in Rithm Capital in the fourth quarter worth $47,845,000. Morgan Stanley purchased a new position in Rithm Capital in the fourth quarter worth $38,490,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Rithm Capital in the fourth quarter worth $36,301,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

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.