Rithm Capital (NYSE:RITM) Price Target Raised to $12.50 at Piper Sandler

Rithm Capital (NYSE:RITM) had its target price upped by Piper Sandler from $11.50 to $12.50 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.94.

Rithm Capital Price Performance

RITM opened at $11.84 on Friday. The firm has a market capitalization of $6.15 billion, a P/E ratio of 11.95 and a beta of 1.79. The stock has a fifty day moving average of $11.14 and a 200-day moving average of $11.14. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12-month low of $10.06 and a 12-month high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. Equities analysts forecast that Rithm Capital will post 1.95 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.45%. Rithm Capital’s payout ratio is presently 101.01%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its position in shares of Rithm Capital by 1.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after purchasing an additional 951 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after buying an additional 967 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 1,016 shares during the period. US Bancorp DE grew its stake in shares of Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 1,155 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,183 shares during the period. Institutional investors and hedge funds 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.