Rithm Capital (NYSE:RITM) Earns “Outperform” Rating from Royal Bank of Canada

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $13.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.83% from the stock’s current price.

Several other equities research analysts have also recently weighed in on RITM. BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. JMP Securities restated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and increased their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Monday. Finally, Jones Trading reiterated a “buy” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.56.

Rithm Capital Stock Performance

Shares of RITM stock traded down $0.03 during trading hours on Tuesday, reaching $11.63. 238,161 shares of the company traded hands, compared to its average volume of 3,984,725. The firm has a 50-day moving average price of $10.99 and a 200 day moving average price of $11.16. The company has a market cap of $6.16 billion, a P/E ratio of 6.96 and a beta of 1.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. Rithm Capital has a 12-month low of $9.13 and a 12-month high of $12.20.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $28.89 million during the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, sell-side analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SouthState Corp acquired a new position in shares of Rithm Capital in the first quarter valued at about $25,000. Fourth Dimension Wealth LLC raised its position in 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 buying an additional 1,000 shares during the last quarter. Quarry LP lifted its stake in Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,327 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,211 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Rithm Capital in the first quarter worth $57,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.