Rithm Capital Corp. Plans Quarterly Dividend of $0.25 (NYSE:RITM)
Rithm Capital Corp. (NYSE:RITM) has declared a quarterly dividend of $0.25 per share, payable on November 1st to investors of record as of October 1st. This results in an annualized dividend of $1.00 and a yield of 8.83%. The company has increased its dividend by an average of 26% annually over the past three years, with a payout ratio of 54.3%. Analysts expect Rithm to earn $1.87 per share next year, supporting its dividend payments. The stock has a market cap of $2.47 billion and a PE ratio of 7.55.
Rithm Capital Corp. (NYSE:RITM - Get Free Report) announced a quarterly dividend on Friday, September 20th, NASDAQ reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, November 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Tuesday, October 1st.
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Rithm Capital has increased its dividend payment by an average of 26.0% per year over the last three years. Rithm Capital has a dividend payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $1.87 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 53.5%.
Rithm Capital Trading Up 0.5 %
NYSE RITM traded up $0.06 during trading hours on Friday, hitting $11.32. 9,151,279 shares of the company were exchanged, compared to its average volume of 3,339,092. Rithm Capital has a 52 week low of $8.87 and a 52 week high of $12.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $11.49 and a 200 day moving average price of $11.21. The stock has a market cap of $5.47 billion, a PE ratio of 7.55 and a beta of 1.80.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Rithm Capital's quarterly revenue was up 18.4% compared to the same quarter last year. Analysts forecast that Rithm Capital will post 1.82 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
RITM has been the subject of several research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. JMP Securities upped their target price on Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Finally, Wedbush reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Rithm Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.60.
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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