Keefe, Bruyette & Woods Boosts Rithm Capital (NYSE:RITM) Price Target to $12.00

Rithm Capital (NYSE:RITM) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $11.50 to $12.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.16% from the stock’s current price.

A number of other equities analysts have also issued reports on RITM. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. Argus raised their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. B. Riley raised their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, JMP Securities lifted their price target on shares of Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, January 18th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital has an average rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Stock Performance

RITM traded down $0.13 during trading on Tuesday, reaching $10.42. 391,388 shares of the company’s stock were exchanged, compared to its average volume of 3,503,806. Rithm Capital has a 1 year low of $7.59 and a 1 year high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $5.04 billion, a P/E ratio of 9.48 and a beta of 1.82. The company’s fifty day simple moving average is $10.79 and its 200-day simple moving average is $10.39.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The company had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. During the same period last year, the firm posted $0.33 EPS. As a group, research analysts predict that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,136 shares during the period. American National Bank acquired a new position in Rithm Capital in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. grew its position in Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Rithm Capital during the fourth quarter worth about $34,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Rithm Capital during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.