Rithm Capital (NYSE:RITM) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Rithm Capital (NYSE:RITM) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently commented on RITM. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.96 on Tuesday. The stock has a market capitalization of $5.70 billion, a PE ratio of 11.07 and a beta of 1.79. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $11.10.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.12%. Rithm Capital’s payout ratio is 101.01%.

Hedge Funds Weigh In On Rithm Capital

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares in the last quarter. Van ECK Associates Corp raised its holdings in Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after buying an additional 343,678 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Neo Ivy Capital Management bought a new position in Rithm Capital during the 3rd quarter valued at approximately $1,476,000. Finally, Waterfall Asset Management LLC purchased a new stake in Rithm Capital in the second quarter worth $2,209,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Company Profile

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.