Rithm Capital (NYSE:RITM) Hits New 12-Month High at $11.95

Rithm Capital Corp. (NYSE:RITM) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $11.95 and last traded at $11.90, with a volume of 2007605 shares. The stock had previously closed at $11.77.

Analyst Ratings Changes

RITM has been the subject of a number of research analyst reports. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Rithm Capital Price Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company’s 50-day simple moving average is $11.39 and its 200-day simple moving average is $11.16. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 7.94 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. On average, equities research analysts anticipate that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.40%. The ex-dividend date was Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Rithm Capital by 154.4% during the second 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 during the last quarter. Bessemer Group Inc. bought a new position in Rithm Capital during the first quarter worth $30,000. Raleigh Capital Management Inc. lifted its stake in Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Rithm Capital during the first quarter worth $62,000. 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.