Wedbush Reaffirms “Outperform” Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They currently have a $14.00 target price on the real estate investment trust’s stock. Wedbush’s price objective suggests a potential upside of 22.32% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler lifted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.25.

Rithm Capital Trading Down 1.6 %

Shares of RITM stock opened at $11.45 on Friday. Rithm Capital has a 12-month low of $10.38 and a 12-month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 6.85 and a beta of 1.83. The stock’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.24.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities research analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital during the third quarter valued at about $43,000. Quarry LP boosted its stake in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares during the last quarter. Quadrant Capital Group LLC grew its position in Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Rithm Capital during the 4th quarter valued at about $81,000. 44.92% of the stock is owned by institutional investors and hedge funds.

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.