Jones Trading Reaffirms Buy Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “buy” rating reaffirmed by research analysts at Jones Trading in a research report issued on Tuesday,Benzinga reports. They presently have a $12.50 price target on the real estate investment trust’s stock. Jones Trading’s target price would suggest a potential upside of 14.05% from the company’s current price.

Several other research analysts also recently commented on RITM. BTIG Research reissued a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a report on Friday. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reissued a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a report on Monday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $13.61.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $10.96 on Tuesday. The stock has a market cap of $5.81 billion, a PE ratio of 6.56 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The firm has a fifty day moving average price of $11.12 and a 200-day moving average price of $11.09. Rithm Capital has a 1 year low of $9.13 and a 1 year high of $12.20.

Rithm Capital (NYSE:RITM) last issued its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.48 EPS. Equities analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently modified their holdings of RITM. Rossby Financial LCC acquired a new position in Rithm Capital during the 1st quarter valued at approximately $79,000. DAVENPORT & Co LLC increased its position in shares of Rithm Capital by 26.9% in the 1st quarter. DAVENPORT & Co LLC now owns 72,891 shares of the real estate investment trust’s stock valued at $835,000 after acquiring an additional 15,441 shares during the period. Summit Trail Advisors LLC raised its stake in Rithm Capital by 8.0% in the 1st quarter. Summit Trail Advisors LLC now owns 53,353 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 3,973 shares during the last quarter. Kendall Capital Management acquired a new stake in Rithm Capital during the 1st quarter worth about $144,000. Finally, Amalgamated Bank grew its stake in Rithm Capital by 5.9% during the 1st quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 1,502 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other 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.