Rithm Capital’s (RITM) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Rithm Capital (NYSE:RITM) in a research note issued to investors on Thursday,Benzinga reports. JMP Securities currently has a $12.50 target price on the real estate investment trust’s stock.

RITM has been the subject of several other research reports. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average target price of $12.94.

Rithm Capital Trading Up 0.1 %

Rithm Capital stock opened at $11.28 on Thursday. The firm has a market cap of $5.86 billion, a PE ratio of 11.39 and a beta of 1.79. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The stock’s 50 day simple moving average is $11.02 and its two-hundred day simple moving average is $11.12. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. Analysts anticipate that Rithm Capital will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

Institutional Trading of Rithm Capital

Several large investors have recently bought and sold shares of RITM. Northwestern Mutual Wealth Management Co. lifted its stake in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,525 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Rithm Capital in the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital during the third quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,062 shares during the last quarter. Finally, Godsey & Gibb Inc. purchased a new stake in Rithm Capital in the 3rd quarter valued at $51,000. Hedge funds and other institutional investors 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.