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

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Friday, March 21st, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 annualized dividend and a yield of 8.63%.

Rithm Capital has increased its dividend by an average of 3.6% annually over the last three years. Rithm Capital has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $2.06 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 48.5%.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.59 on Friday. The firm’s 50 day moving average is $11.64 and its two-hundred day moving average is $11.23. The firm has a market capitalization of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital has a 52 week low of $10.38 and a 52 week high of $12.20.

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 the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised 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, JMP Securities restated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.25.

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.