Rithm Capital (NYSE:RITM) Hits New 52-Week High – Time to Buy?

Rithm Capital Corp. (NYSE:RITM) shares reached a new 52-week high on Thursday . The company traded as high as $12.10 and last traded at $12.08, with a volume of 310153 shares trading hands. The stock had previously closed at $12.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RITM shares. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler lifted their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.07.

Rithm Capital Stock Performance

The stock has a market cap of $6.32 billion, a P/E ratio of 7.27 and a beta of 1.79. The company has a fifty day moving average of $11.42 and a 200 day moving average of $11.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.24%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RITM. Creative Planning increased its holdings in shares of Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock valued at $875,000 after buying an additional 13,152 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Rithm Capital by 895.6% in the third quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust’s stock valued at $1,902,000 after buying an additional 150,782 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 6,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Rithm Capital by 63.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,167 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 7,057 shares in the last quarter. Finally, US Bancorp DE grew its position in Rithm Capital by 18.0% during the 3rd quarter. US Bancorp DE now owns 31,303 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 4,765 shares in the last quarter. 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.