Stocks of Rithm Capital Corp. (NYSE:RITM) traded higher last session on Wall Street, down -0.12% to $8.21.
According to the data, Rithm Capital Corp. (NYSE:RITM) has 12 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $9.00, we find $11.00. Given the previous closing price of $8.22, this indicates a potential upside of 33.82 percent. RITM stock price is now 3.37% away from the 50-day moving average and -4.17% away from the 200-day moving average. The market capitalization of the company currently stands at $3.98B.
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A total of 1 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $11.05 as their price target over the next twelve months.
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A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RITM stock. A new stake in Rithm Capital Corp. shares was purchased by MOORE CAPITAL MANAGEMENT, LP during the first quarter worth $2,545,000. HBK INVESTMENTS L P invested $2,364,000 in shares of RITM during the first quarter. In the first quarter, MITSUBISHI UFJ TRUST & BANKING CORP acquired a new stake in Rithm Capital Corp. valued at approximately $1,109,000. CONSOLIDATED PORTFOLIO REVIEW CORP acquired a new stake in RITM for approximately $703,000. FJ CAPITAL MANAGEMENT LLC purchased a new stake in RITM valued at around $645,000 in the second quarter. In total, there are 513 active investors with 49.50% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $8.23 for Rithm Capital Corp. (NYSE: RITM). During the past 12 months, Rithm Capital Corp. has had a low of $6.86 and a high of $11.11. The fifty day moving average price for RITM is $7.94 and a two-hundred day moving average price translates $8.60 for the stock.
The latest earnings results from Rithm Capital Corp. (NYSE: RITM) was released for Mar, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.35, beating analysts’ expectations of $0.32 by 0.03. This compares to $1.37 EPS in the same period last year. The net profit margin was 5.10% and return on equity was 4.80% for RITM. The company reported revenue of $674.15 million for the quarter, compared to $1.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -46.38 percent. For the current quarter, analysts expect RITM to generate $379.59M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/28/2023. Investors who held shares on 03/31/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 12.18% percent yield. There was an ex-dividend date of 03/30/2023 for this dividend. In terms of dividend payout ratio, RITM is presently at 173.80%.
Rithm Capital Corp.(RITM) Company Profile
Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as New Residential Investment Corp. and changed its name to Rithm Capital Corp. in August 2022. Rithm Capital Corp. was incorporated in 2011 and is headquartered in New York, New York.
