The stock of Rithm Capital Corp. (NYSE:RITM) last traded at $9.95, down -1.19% from the previous session.
Data from the available sources indicates that Rithm Capital Corp. (NYSE:RITM) is covered by 11 analysts. 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 $10.50, we find $11.75. Given the previous closing price of $10.07, this indicates a potential upside of 16.68 percent. RITM stock price is now 0.58% away from the 50-day moving average and 11.49% away from the 200-day moving average. The market capitalization of the company currently stands at $4.82B.
In total, 1 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $11.55 as their price target over the next twelve months.
With the price target of $12, B. Riley Securities recently initiated with Buy rating for Rithm Capital Corp. (NYSE: RITM).
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 HSBC HOLDINGS PLC during the first quarter worth $8,457,000. GREAT LAKES ADVISORS, LLC invested $4,419,000 in shares of RITM during the first quarter. In the first quarter, FOUNDRY PARTNERS, LLC acquired a new stake in Rithm Capital Corp. valued at approximately $3,405,000. SLAGLE FINANCIAL, LLC acquired a new stake in RITM for approximately $2,248,000. BECK CAPITAL MANAGEMENT, LLC purchased a new stake in RITM valued at around $1,677,000 in the second quarter. In total, there are 505 active investors with 49.50% ownership of the company’s stock.
With an opening price of $10.06 on Wednesday morning, Rithm Capital Corp. (NYSE: RITM) set off the trading day. During the past 12 months, Rithm Capital Corp. has had a low of $6.86 and a high of $10.45. The fifty day moving average price for RITM is $9.91 and a two-hundred day moving average price translates $8.93 for the stock.
The latest earnings results from Rithm Capital Corp. (NYSE: RITM) was released for Jun, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.62, beating analysts’ expectations of $0.35 by 0.27. This compares to -$0.01 EPS in the same period last year. The net profit margin was 12.10% and return on equity was 11.00% for RITM. The company reported revenue of $886.38 million for the quarter, compared to $1.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.74 percent. For the current quarter, analysts expect RITM to generate $385.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/28/2023. Investors who held shares on 07/03/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 10.05% percent yield. There was an ex-dividend date of 06/30/2023 for this dividend. In terms of dividend payout ratio, RITM is presently at 75.60%.
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.
