Rithm Capital (NYSE:RITM) Upgraded at B. Riley

B. Riley upgraded shares of Rithm Capital (NYSE:RITM) to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on RITM. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $12.94.

Rithm Capital Trading Down 0.4 %

NYSE:RITM opened at $10.96 on Tuesday. The stock’s 50 day moving average price is $10.92 and its 200 day moving average price is $11.10. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a market capitalization of $5.70 billion, a P/E ratio of 11.07 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, research analysts forecast that Rithm Capital will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.12%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Hedge Funds Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in Rithm Capital by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 179,737 shares of the real estate investment trust’s stock worth $1,961,000 after buying an additional 13,186 shares during the period. Arizona State Retirement System lifted its position in shares of Rithm Capital by 1.9% in the second quarter. Arizona State Retirement System now owns 135,282 shares of the real estate investment trust’s stock valued at $1,476,000 after buying an additional 2,484 shares during the last quarter. Quest Partners LLC acquired a new stake in Rithm Capital during the 2nd quarter valued at $466,000. Choreo LLC bought a new stake in shares of Rithm Capital during the 2nd quarter worth about $395,000. Finally, Prevail Innovative Wealth Advisors LLC boosted its holdings in shares of Rithm Capital by 14.6% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 249,892 shares of the real estate investment trust’s stock worth $2,726,000 after acquiring an additional 31,856 shares during the period. 44.92% of the stock is owned by institutional investors.

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.