Rithm Capital (NYSE:RITM) Given “Outperform” Rating at Wedbush

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research note issued to investors on Thursday,RTT News reports. They currently have a $14.00 price objective on the real estate investment trust’s stock. Wedbush’s price target indicates a potential upside of 31.21% from the stock’s current price.

A number of other research firms also recently weighed in on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities upped their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Trading Up 1.0 %

NYSE:RITM traded up $0.11 on Thursday, reaching $10.67. The company’s stock had a trading volume of 3,456,458 shares, compared to its average volume of 3,536,989. The firm has a market cap of $5.16 billion, a PE ratio of 10.78 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The business’s 50-day moving average price is $11.13 and its two-hundred day moving average price is $11.17. Rithm Capital has a 1-year low of $9.68 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share 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 17.91%. The firm had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Equities research analysts anticipate that Rithm Capital will post 1.85 earnings per share for the current fiscal year.

Institutional Trading of Rithm Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after buying an additional 378,931 shares in the last quarter. Long Pond Capital LP bought a new stake in Rithm Capital in the 1st quarter valued at about $53,025,000. BlueCrest Capital Management Ltd grew its position in shares of Rithm Capital by 1.0% during the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock worth $23,823,000 after purchasing an additional 21,424 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Rithm Capital by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock valued at $19,128,000 after buying an additional 158,857 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

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.