Rithm Capital (NYSE:RITM) Sets New 52-Week High – Here’s What Happened

Rithm Capital Corp. (NYSE:RITM)’s share price reached a new 52-week high on Friday . The stock traded as high as $12.10 and last traded at $12.09, with a volume of 602407 shares traded. The stock had previously closed at $11.99.

Analyst Upgrades and Downgrades

RITM has been the subject of several analyst reports. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler lifted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $12.94.

Rithm Capital Price Performance

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 has a 50 day moving average of $11.23 and a 200 day moving average of $11.16. The company has a market cap of $6.25 billion, a PE ratio of 7.20 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. As a group, research analysts predict that Rithm Capital Corp. will post 1.92 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s payout ratio is presently 59.88%.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of Rithm Capital in the 3rd quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital in the third quarter worth about $43,000. Quarry LP grew its holdings in Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,062 shares in the last quarter. Finally, Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $51,000. 44.92% of the stock is owned by hedge funds and other 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.