Wedbush Reiterates "Outperform" Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a report issued on Thursday, MarketBeat reports. They presently have a $13.00 price target on the real estate investment trust's stock. Wedbush's price objective would indicate a potential upside of 14.94% from the company's current price.

Several other research analysts have also recently issued reports on the company. JMP Securities reissued a "market outperform" rating and issued a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Jonestrading upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Finally, B. Riley upped their price objective on Rithm Capital from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $12.05.

Rithm Capital Trading Up 0.8 %

Shares of NYSE:RITM traded up $0.09 during trading on Thursday, hitting $11.31. The company had a trading volume of 2,284,731 shares, compared to its average volume of 3,436,532. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 7.47 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The company has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $10.59. Rithm Capital has a one year low of $7.80 and a one year high of $11.45.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The company had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities analysts forecast that Rithm Capital will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Rithm Capital by 605.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 2,136 shares during the last quarter. American National Bank acquired a new position in Rithm Capital during the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. lifted its stake in Rithm Capital by 125.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 1,661 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Rithm Capital during the fourth quarter worth approximately $34,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Rithm Capital in the 4th quarter valued at $43,000. 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.