UBS Group Has Lowered Expectations for Rithm Capital (NYSE:RITM) Stock Price

Rithm Capital (NYSE:RITM - Get Free Report) had its price objective reduced by equities research analysts at UBS Group from $14.00 to $13.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 31.31% from the company's previous close.

RITM has been the subject of several other reports. JMP Securities reissued a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush reissued an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. Piper Sandler increased their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, B. Riley raised Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rithm Capital presently has a consensus rating of "Buy" and a consensus price target of $13.21.

Rithm Capital Stock Down 2.4 %

Shares of NYSE:RITM traded down $0.24 during midday trading on Wednesday, reaching $9.90. The company had a trading volume of 1,776,290 shares, compared to its average volume of 3,844,079. The stock has a market cap of $5.25 billion, a PE ratio of 5.93 and a beta of 1.36. Rithm Capital has a 1-year low of $9.13 and a 1-year high of $12.20. The business's 50 day moving average price is $11.31 and its 200 day moving average price is $11.10. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Research analysts forecast that Rithm Capital will post 1.93 EPS for the current fiscal year.

Institutional Trading of Rithm Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RITM. Norges Bank acquired a new stake in shares of Rithm Capital in the 4th quarter worth about $76,082,000. JPMorgan Chase & Co. raised its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Balyasny Asset Management L.P. raised its position in Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after acquiring an additional 2,136,342 shares during the period. First Trust Advisors LP increased its position in Rithm Capital by 78.3% in the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock worth $35,793,000 after buying an additional 1,451,829 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Rithm Capital in the 4th quarter worth about $13,913,000. 44.92% of the stock is owned by institutional investors.

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.