Rithm Capital Corp. (NYSE:RITM) Announces $0.25 Quarterly Dividend

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.05%. The ex-dividend date of this dividend is Tuesday, December 31st.

Rithm Capital has raised its dividend by an average of 26.0% per year over the last three years. Rithm Capital has a payout ratio of 51.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 52.1%.

Rithm Capital Stock Down 1.1 %

Shares of RITM opened at $11.06 on Wednesday. The firm has a market cap of $5.75 billion, a P/E ratio of 11.17 and a beta of 1.80. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The stock has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $11.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

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

Analysts Set New Price Targets

Several brokerages have weighed in on RITM. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.94.

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.