Rithm Capital’s (RITM) “Outperform” Rating Reiterated at Wedbush

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating restated by Wedbush in a research report issued on Thursday, Benzinga reports. They presently have a $13.00 target price on the real estate investment trust’s stock. Wedbush’s price target would indicate a potential upside of 15.35% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Jonestrading increased their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. B. Riley raised their target price on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Argus upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.05.

Rithm Capital Price Performance

NYSE:RITM opened at $11.27 on Thursday. The firm has a market cap of $5.45 billion, a P/E ratio of 7.47 and a beta of 1.80. The stock has a 50 day moving average of $10.99 and a two-hundred day moving average of $10.59. Rithm Capital has a 12 month low of $7.80 and a 12 month high of $11.45. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. During the same period last year, the firm posted $0.33 earnings per share. On average, analysts expect that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RITM. Parkside Financial Bank & Trust raised its position in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares in the last quarter. American National Bank acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its stake in Rithm Capital by 125.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,661 shares during the last quarter. GAMMA Investing LLC acquired a new position in Rithm Capital during the 4th quarter worth approximately $34,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Rithm Capital in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.