Rithm Capital (NYSE:RITM) Receives Market Outperform Rating from JMP Securities

Rithm Capital (NYSE:RITM)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They currently have a $11.00 price target on the real estate investment trust’s stock. JMP Securities’ price target would indicate a potential upside of 3.19% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Jonestrading upped their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus upped their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital has a consensus rating of “Buy” and an average price target of $12.00.

Rithm Capital Stock Performance

Shares of RITM stock traded up $0.14 during trading on Thursday, reaching $10.66. 653,970 shares of the company’s stock traded hands, compared to its average volume of 3,474,057. The company has a market capitalization of $5.16 billion, a P/E ratio of 9.69 and a beta of 1.82. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $10.80 and its 200 day moving average is $10.40. Rithm Capital has a 1 year low of $7.59 and a 1 year high of $11.33.

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

Institutional Investors Weigh In On Rithm Capital

Several institutional investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC boosted its position in Rithm Capital by 68.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 17,777 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 7,249 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital during the 1st quarter valued at $71,000. Range Financial Group LLC boosted its position in Rithm Capital by 7.5% during the 1st quarter. Range Financial Group LLC now owns 67,103 shares of the real estate investment trust’s stock valued at $749,000 after buying an additional 4,691 shares during the period. International Assets Investment Management LLC lifted its position in shares of Rithm Capital by 13.0% in the 1st quarter. International Assets Investment Management LLC now owns 16,707 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 1,916 shares during the period. Finally, Silverberg Bernstein Capital Management LLC purchased a new stake in shares of Rithm Capital in the 1st quarter worth about $147,000. 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.