Rithm Capital Corp. Declares Quarterly Dividend of $0.25 (NYSE:RITM)

by · The Markets Daily

Rithm Capital Corp. (NYSE:RITM – Get Free Report) declared a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, July 26th. This represents a $1.00 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend is Monday, July 1st.

Rithm Capital has increased its dividend payment by an average of 26.0% annually over the last three years. Rithm Capital has a payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 53.8%.

Rithm Capital Stock Up 1.0 %

Shares of NYSE:RITM opened at $10.91 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.27 billion, a P/E ratio of 7.27 and a beta of 1.80. Rithm Capital has a 52-week low of $8.87 and a 52-week high of $11.60. The stock’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $10.91.

Analyst Ratings Changes

A number of research firms have issued reports on RITM. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, May 9th. B. Riley reiterated a “buy” rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. Finally, Piper Sandler lifted their price objective on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.32.

Read Our Latest Stock Analysis on RITM

Rithm Capital Company Profile

(Get Free Report)

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.

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