Rithm Capital (NYSE:RITM) Price Target Raised to $14.00 at Royal Bank Of Canada

Key Points

• The price target for Rithm Capital (NYSE:RITM) has been raised to $14.00 by the Royal Bank of Canada, suggesting a potential upside of 16.23% from the previous close.
• Multiple analysts, including Keefe, Bruyette & Woods and UBS Group, have shown positive sentiment, with a majority of them rating the stock as an "outperform" or "buy."
• Rithm Capital recently reported $1.22 billion in revenue for the quarter, exceeding analysts' expectations, alongside an earnings per share of $0.54.

Rithm Capital (NYSE:RITM - Get Free Report) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $13.00 to $14.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target would suggest a potential upside of 16.23% from the company's previous close.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday. UBS Group reissued a "buy" rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. BTIG Research reiterated a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Finally, Jones Trading boosted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Stock Performance

Shares of NYSE:RITM traded up $0.02 during trading on Friday, reaching $12.05. The stock had a trading volume of 1,867,155 shares, compared to its average volume of 4,465,207. Rithm Capital has a 52 week low of $9.13 and a 52 week high of $12.59. The stock has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $11.37. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.25 and a beta of 1.25. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of Rithm Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Rithm Capital during the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Rithm Capital during the 2nd quarter worth $30,000. Fourth Dimension Wealth LLC lifted its position in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Rithm Capital during the 2nd quarter worth $43,000. Finally, Quarry LP lifted its position in shares of Rithm Capital by 47.5% during 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 during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Company Profile

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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