Shares of Rithm Capital Corporation (NYSE: RITM – Get a rating) received a consensus “moderate buy” recommendation from the eight research firms that currently cover the stock, reports MarketBeat.com. One analyst rated the stock with a sell recommendation and six gave the company a buy recommendation. The 12-month average target price among brokerages that have rated the stock over the past year is $12.00.
A number of analysts have recently released reports on the stock. Piper Sandler downgraded Rithm Capital shares from a “neutral” rating to an “underweight” rating and lowered her target price for the stock from $12.00 to $10.00 in a research report from the Monday, June 13. StockNews.com moved Rithm Capital shares from a “hold” rating to a “buy” rating in a Monday, May 9 research report. Finally, Credit Suisse Group lowered its price target on Rithm Capital shares to $12.00 in a Friday, July 22 research report.
Rithm Capital Stock up 0.3%
Rithm Capital shares opened at $9.90 on Friday. The company’s 50-day moving average price is $10.04 and its 200-day moving average price is $10.41. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt ratio of 0.09. Rithm Capital has a 52-week low of $8.18 and a 52-week high of $11.81. The company has a market capitalization of $4.62 billion, a P/E ratio of 4.97 and a beta of 1.68.
Rithm Capital (NYSE: RITM – Get a rating) last released its quarterly earnings data on Tuesday, August 2. The real estate investment trust reported earnings per share (EPS) of $0.31 for the quarter, beating the consensus estimate of $0.29 by $0.02. Rithm Capital had a net margin of 20.51% and a return on equity of 13.84%. In the same quarter of the previous year, the company had achieved EPS of $0.31. On average, sell-side analysts expect Rithm Capital to post EPS of 1.21 for the current fiscal year.
Rithm Capital announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Investors of record on Friday, July 1 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 10.10%. The ex-dividend date was Thursday, June 30. Rithm Capital’s payout ratio is currently 50.25%.
Hedge funds weigh on Rithm Capital
A number of hedge funds and other institutional investors have recently changed their stock holdings. National Bank of Canada FI acquired a new stake in Rithm Capital during the 4th quarter for a value of approximately $42,000. Allspring Global Investments Holdings LLC acquired a new equity stake from Rithm Capital during Q4, valued at approximately $325,000. New Jersey State Joint Pension Fund D increased its holdings of Rithm Capital stock by 0.6% during the 4th quarter. New Jersey State Joint Pension Fund D now owns 477,823 shares of the real estate investment trust worth $5,118,000 after buying 2,683 additional shares in the last quarter. Yousif Capital Management LLC acquired a new equity stake from Rithm Capital during Q4 valued at approximately $220,000. Finally, CWM LLC bought a new stock position in Rithm Capital in Q4 valued at around $59,000. Institutional investors and hedge funds own 46.48% of the company’s shares.
Rithm Capital Company Profile
New Residential Investment Corp. is a real estate investment trust that aims to generate long-term value for investors by investing in mortgage-related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables and Corporate.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Rithm Capital right now?
Before you consider Rithm Capital, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Rithm Capital didn’t make the list.
While Rithm Capital currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here