Brokerages Set Rithm Capital Corp. (NYSE:RITM) Price Target at $12.60

Shares of Rithm Capital Corp. (NYSE:RITM) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.60.

A number of analysts recently issued reports on RITM shares. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities lifted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th.

Rithm Capital Stock Down 0.3 %

Shares of NYSE RITM opened at $11.88 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital has a 12-month low of $8.87 and a 12-month high of $12.02. The firm’s 50-day moving average price is $11.49 and its 200-day moving average price is $11.19. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 7.92 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts anticipate that Rithm Capital will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Rithm Capital

Large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI grew its holdings in Rithm Capital by 156.5% during the 4th quarter. National Bank of Canada FI now owns 10,163 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 6,201 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Rithm Capital by 26.9% during the fourth quarter. BNP Paribas Financial Markets now owns 301,531 shares of the real estate investment trust’s stock valued at $3,220,000 after purchasing an additional 63,912 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Rithm Capital by 9.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 50,167 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 4,308 shares during the period. Independent Advisor Alliance raised its stake in Rithm Capital by 10.0% in the fourth quarter. Independent Advisor Alliance now owns 230,008 shares of the real estate investment trust’s stock worth $2,456,000 after buying an additional 20,937 shares in the last quarter. Finally, Norges Bank purchased a new stake in Rithm Capital during the fourth quarter worth $63,896,000. 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.