Rithm Capital (NYSE:RITM) PT Raised to $12.00 at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $11.50 to $12.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.96% from the company’s current price.

A number of other brokerages have also commented on RITM. B. Riley raised their price target on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. JMP Securities boosted their price target on shares of Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, January 18th. Argus raised their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Finally, Jonestrading raised their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $12.00.

Rithm Capital Price Performance

RITM stock opened at $10.53 on Tuesday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.57 and a beta of 1.82. The firm’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $10.40. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital has a 12-month low of $7.59 and a 12-month high of $11.33.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The company had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, equities analysts predict that Rithm Capital will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Treasurer of the State of North Carolina grew its position in Rithm Capital by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock valued at $1,966,000 after purchasing an additional 1,070 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Rithm Capital by 5.9% during the fourth quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 1,087 shares during the last quarter. US Bancorp DE increased its position in shares of Rithm Capital by 5.0% during the fourth quarter. US Bancorp DE now owns 23,961 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 1,131 shares in the last quarter. HighTower Advisors LLC raised its holdings in Rithm Capital by 0.9% in the 3rd quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust’s stock worth $1,163,000 after acquiring an additional 1,139 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Rithm Capital by 15.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,200 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

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.