Rithm Capital (NYSE:RITM) Reaches New 52-Week High at $11.33

Shares of Rithm Capital Corp. (NYSE:RITM) hit a new 52-week high during trading on Monday . The stock traded as high as $11.33 and last traded at $11.27, with a volume of 1206291 shares traded. The stock had previously closed at $11.21.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RITM. Argus raised their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. B. Riley raised their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Monday, February 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $12.00.

Rithm Capital Price Performance

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 cap of $5.43 billion, a P/E ratio of 10.19 and a beta of 1.82. The business’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $10.49.

Rithm Capital (NYSE:RITM) last released its 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 firm had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.91%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is currently 90.91%.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in RITM. Jump Financial LLC increased its position in shares of Rithm Capital by 668.7% in the third quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock valued at $2,002,000 after buying an additional 187,460 shares in the last quarter. Lewis Asset Management LLC purchased a new stake in Rithm Capital in the 4th quarter worth $2,813,000. Capula Management Ltd purchased a new position in Rithm Capital during the third quarter valued at $910,000. Ritholtz Wealth Management acquired a new stake in shares of Rithm Capital in the fourth quarter valued at about $114,000. Finally, Invesco Ltd. raised its position in shares of Rithm Capital by 67.0% during the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.