Rithm Capital (NYSE:RITM) Announces Earnings Results

Rithm Capital (NYSE:RITM) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12, RTT News reports. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $0.58 EPS.

Rithm Capital Trading Down 0.4 %

RITM stock traded down $0.04 during mid-day trading on Friday, reaching $10.55. The company had a trading volume of 2,342,592 shares, compared to its average volume of 3,492,063. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $5.10 billion, a PE ratio of 10.79 and a beta of 1.80. The firm has a 50 day moving average of $11.22 and a 200 day moving average of $11.17. Rithm Capital has a 12 month low of $9.61 and a 12 month high of $12.02.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.48%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

RITM has been the subject of a number of recent research reports. 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 Tuesday, August 13th. JMP Securities lifted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and an average price target of $12.67.

About Rithm Capital

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.