Rithm Capital (NYSE:RITM) Rating Reiterated by JMP Securities

Rithm Capital (NYSE:RITM)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They presently have a $11.00 price target on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 3.19% from the company’s current price.

Several other analysts have also recently commented on RITM. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley upped their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Jonestrading upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Argus upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price objective on shares of Rithm Capital in a research report on Monday, April 1st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rithm Capital has an average rating of “Buy” and an average price target of $12.00.

Rithm Capital Trading Up 1.3 %

Shares of Rithm Capital stock traded up $0.14 on Thursday, hitting $10.66. 653,970 shares of the company’s stock traded hands, compared to its average volume of 3,474,057. The firm’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $10.40. The stock has a market capitalization of $5.16 billion, a PE ratio of 9.69 and a beta of 1.82. Rithm Capital has a one year low of $7.59 and a one year high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last issued its 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. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same quarter in the previous year, the company posted $0.33 EPS. On average, research analysts expect that Rithm Capital will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

A number of large investors have recently modified their holdings of RITM. Parkside Financial Bank & Trust boosted its stake in shares of Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the last quarter. American National Bank acquired a new position in shares of Rithm Capital during the 4th quarter worth about $27,000. Raleigh Capital Management Inc. boosted its stake in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Rithm Capital during the 4th quarter worth about $34,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Rithm Capital during the 4th quarter worth about $34,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.