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

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating restated by Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $14.00 price objective on the real estate investment trust’s stock. Wedbush’s price objective points to a potential upside of 22.32% from the stock’s current price.

Several other analysts also recently weighed in on RITM. Piper Sandler boosted their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. JMP Securities reissued a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.25.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.45 on Friday. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 6.85 and a beta of 1.83. Rithm Capital has a 12-month low of $10.38 and a 12-month high of $12.20. The firm has a fifty day moving average of $11.69 and a 200-day moving average of $11.24. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. On average, equities research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current year.

Institutional Trading of Rithm Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in RITM. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital in the third quarter valued at $43,000. Quarry LP increased its stake in Rithm Capital by 47.5% in the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,327 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC increased its position in Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,211 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Rithm Capital in the fourth quarter valued at $81,000. 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.