Rithm Capital Corp. (NYSE:RITM) Declares $0.25 Quarterly Dividend

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Tuesday, March 24th. Stockholders of record on Monday, April 6th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Monday, April 6th.

Rithm Capital has increased its dividend payment by an average of 0.1%annually over the last three years. Rithm Capital has a payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Stock Performance

RITM opened at $9.38 on Wednesday. Rithm Capital has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. The firm has a market cap of $5.22 billion, a PE ratio of 9.00 and a beta of 1.21. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. The business has a fifty day simple moving average of $10.49 and a 200-day simple moving average of $10.99.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, equities analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Analysts Set New Price Targets

RITM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price for the company. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, UBS Group set a $15.00 price objective on Rithm Capital in a report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.