Rithm Capital (NYSE:RITM) Stock Price Target Raised at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $12.50 to $13.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods‘s target price would suggest a potential upside of 38.67% from the company’s previous close.

A number of other equities research analysts have also issued reports on RITM. Weiss Ratings lowered shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Wall Street Zen upgraded shares of Rithm Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. BTIG Research decreased their price target on shares of Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Wedbush restated an “outperform” rating and set a $10.00 price target on shares of Rithm Capital in a research report on Thursday, October 22nd. Finally, Piper Sandler lowered their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Rithm Capital Price Performance

Shares of RITM traded up $0.15 during trading hours on Tuesday, hitting $9.38. 3,479,248 shares of the stock were exchanged, compared to its average volume of 7,702,272. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.58 and a current ratio of 0.83. Rithm Capital has a 12-month low of $8.31 and a 12-month high of $12.15. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.59 and a beta of 1.16. The stock’s 50-day moving average price is $9.38 and its two-hundred day moving average price is $9.76.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Friday, October 23rd. The real estate investment trust reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.47 billion. Rithm Capital had a return on equity of 20.03% and a net margin of 8.71%. Research analysts expect that Rithm Capital will post 2.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Peggy Hebard sold 14,520 shares of Rithm Capital stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the sale, the director owned 82,259 shares in the company, valued at approximately $837,396.62. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System lifted its position in Rithm Capital by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 153,387 shares of the real estate investment trust’s stock worth $1,440,000 after acquiring an additional 1,016 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Rithm Capital by 8.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 14,777 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 1,200 shares in the last quarter. Apollon Wealth Management LLC grew its position in Rithm Capital by 2.3% in the first quarter. Apollon Wealth Management LLC now owns 55,606 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Rithm Capital by 14.1% in the first quarter. EverSource Wealth Advisors LLC now owns 10,309 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Range Financial Group LLC raised its stake in shares of Rithm Capital by 0.7% during the third quarter. Range Financial Group LLC now owns 178,876 shares of the real estate investment trust’s stock valued at $1,597,000 after purchasing an additional 1,329 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

About Rithm Capital

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.