Rithm Capital (NYSE:RITM) Earns “Outperform” Rating from Royal Bank of Canada

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $13.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price target points to a potential upside of 18.45% from the stock’s current price.

Separately, Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Stock Up 1.7 %

Shares of Rithm Capital stock opened at $10.98 on Thursday. The company’s 50 day moving average price is $10.92 and its 200-day moving average price is $11.14. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 11.09 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the company earned $0.58 earnings per share. Equities research analysts forecast that Rithm Capital will post 1.89 EPS for the current year.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in RITM. Long Pond Capital LP bought a new position in shares of Rithm Capital in the 1st quarter worth about $53,025,000. Azora Capital LP increased its stake in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares in the last quarter. Soros Fund Management LLC purchased a new position in shares of Rithm Capital during the third quarter valued at approximately $23,835,000. Seven Grand Managers LLC bought a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $11,918,000. Finally, Maven Securities LTD bought a new position in Rithm Capital during the 3rd quarter valued at approximately $11,350,000. Hedge funds and other institutional investors 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.