Rithm Capital (NYSE:RITM) Sets New 52-Week High – Here’s What Happened

Rithm Capital Corp. (NYSE:RITM) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.10 and last traded at $12.09, with a volume of 602407 shares traded. The stock had previously closed at $11.99.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RITM. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Piper Sandler raised their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and an average price target of $12.94.

Rithm Capital Stock Up 0.3 %

The company has a market cap of $6.25 billion, a P/E ratio of 7.20 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $11.23 and a 200 day moving average of $11.16.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. On average, research analysts anticipate that Rithm Capital Corp. will post 1.92 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC purchased a new position in Rithm Capital during the third quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital during the 3rd quarter valued at about $43,000. Quarry LP grew its stake in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its holdings in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,211 shares during the period. 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.