Rithm Capital (NYSE:RITM) Stock Rating Reaffirmed as Outperform by Wedbush

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $10.00 target price on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential upside of 17.16% from the stock’s previous close.

Other analysts have also issued reports about the company. UBS Group reduced their price objective on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. BTIG Research lowered their target price on Rithm Capital from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Piper Sandler dropped their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus target price of $12.80.

Rithm Capital Trading Down 1.2%

Shares of RITM stock opened at $8.54 on Thursday. The stock’s fifty day moving average price is $9.45 and its two-hundred day moving average price is $9.50. The company has a market cap of $4.77 billion, a PE ratio of 14.23, a P/E/G ratio of 0.55 and a beta of 1.16. Rithm Capital has a fifty-two week low of $8.31 and a fifty-two week high of $12.15. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.58 and a current ratio of 0.58.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. Equities analysts predict that Rithm Capital will post 2.25 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Rithm Capital

Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers increased its holdings in Rithm Capital by 26.9% in the first quarter. Cetera Investment Advisers now owns 1,447,552 shares of the real estate investment trust’s stock valued at $13,723,000 after purchasing an additional 306,615 shares during the period. BlueCrest Capital Management Ltd grew its position in shares of Rithm Capital by 37.8% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 2,046,427 shares of the real estate investment trust’s stock valued at $19,216,000 after buying an additional 561,819 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Rithm Capital in the 2nd quarter valued at about $2,574,000. NewEdge Advisors LLC increased its stake in shares of Rithm Capital by 670.7% in the second quarter. NewEdge Advisors LLC now owns 150,132 shares of the real estate investment trust’s stock valued at $1,410,000 after buying an additional 130,651 shares during the period. Finally, Family Manage LLC increased its stake in shares of Rithm Capital by 62.1% in the first quarter. Family Manage LLC now owns 487,557 shares of the real estate investment trust’s stock valued at $4,622,000 after buying an additional 186,816 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Company Profile

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.