Rithm Capital Corp. (NYSE:RITM) Receives $12.60 Average Price Target from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.60.

A number of research analysts recently issued reports on the stock. JMP Securities boosted their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.88 on Monday. The company has a market capitalization of $5.74 billion, a PE ratio of 7.92 and a beta of 1.80. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $11.19. Rithm Capital has a one year low of $8.87 and a one year high of $12.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. Rithm Capital’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Research analysts expect that Rithm Capital will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently bought and sold shares of RITM. National Bank of Canada FI lifted its holdings in shares of Rithm Capital by 156.5% in the 4th quarter. National Bank of Canada FI now owns 10,163 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 6,201 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Rithm Capital by 26.9% during the 4th quarter. BNP Paribas Financial Markets now owns 301,531 shares of the real estate investment trust’s stock worth $3,220,000 after buying an additional 63,912 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Rithm Capital by 9.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 50,167 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 4,308 shares during the period. Independent Advisor Alliance increased its position in shares of Rithm Capital by 10.0% during the fourth quarter. Independent Advisor Alliance now owns 230,008 shares of the real estate investment trust’s stock worth $2,456,000 after acquiring an additional 20,937 shares during the period. Finally, Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at $63,896,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.