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

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.94%.

Rithm Capital has raised its dividend payment by an average of 26.0% per year over the last three years. Rithm Capital has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Rithm Capital to earn $1.89 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 52.9%.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.19 on Tuesday. 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 firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 11.30 and a beta of 1.80. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The business’s 50 day simple moving average is $10.84 and its 200-day simple moving average is $11.13.

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

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.94.

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.