Rithm Capital (NYSE:RITM - Get Free Report) had its target price raised by Keefe, Bruyette & Woods from $12.00 to $12.50 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 11.16% from the company's previous close.
Other equities analysts have also recently issued reports about the stock. B. Riley lifted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $11.00 target price on shares of Rithm Capital in a report on Thursday, April 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Argus lifted their target price 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, Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.05.
Check Out Our Latest Stock Report on Rithm Capital
Rithm Capital Stock Up 0.8 %
RITM stock traded up $0.08 during midday trading on Thursday, reaching $11.25. 3,067,758 shares of the company were exchanged, compared to its average volume of 3,484,555. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. Rithm Capital has a 1-year low of $7.59 and a 1-year high of $11.41. The stock's 50-day simple moving average is $10.94 and its 200 day simple moving average is $10.53. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 7.50 and a beta of 1.80.
Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts' expectations of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts forecast that Rithm Capital will post 1.69 earnings per share for the current year.
Hedge Funds Weigh In On Rithm Capital
Several institutional investors have recently bought and sold shares of RITM. Norges Bank purchased a new stake in shares of Rithm Capital during the 4th quarter worth $63,896,000. Northern Trust Corp boosted its position in shares of Rithm Capital by 69.3% during the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust's stock worth $35,581,000 after purchasing an additional 1,567,489 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Rithm Capital by 4,525.1% during the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust's stock worth $8,208,000 after purchasing an additional 751,895 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Rithm Capital by 360.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust's stock worth $8,889,000 after purchasing an additional 749,058 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust's stock worth $12,510,000 after purchasing an additional 607,413 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.
About Rithm Capital
(
Get Free Report)
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.
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