Rithm Capital’s (RITM) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Rithm Capital (NYSE:RITM) in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $13.00 price target on the real estate investment trust’s stock.

Separately, Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

Rithm Capital Stock Up 1.8 %

RITM opened at $10.98 on Thursday. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The firm has a 50 day moving average price of $10.90 and a 200 day moving average price of $11.13. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $5.71 billion, a PE ratio of 11.09 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the business earned $0.58 earnings per share. Sell-side analysts expect that Rithm Capital will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. Rithm Capital’s dividend payout ratio is presently 101.01%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in Rithm Capital by 154.4% during the 2nd 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. acquired a new stake in shares of Rithm Capital during the first quarter worth approximately $30,000. Truvestments Capital LLC bought a new stake in shares of Rithm Capital in the third quarter worth $43,000. Abich Financial Wealth Management LLC raised its holdings in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Godsey & Gibb Inc. acquired a new stake in Rithm Capital in the third quarter valued at $51,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.