Rithm Capital Corp. (NYSE:RITM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rithm Capital Corp. (NYSE:RITM) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.60.

RITM has been the subject of several recent analyst reports. JMP Securities boosted their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently modified their holdings of RITM. Seelaus Asset Management LLC lifted its position in Rithm Capital by 2.7% in the first quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 955 shares during the period. Leavell Investment Management Inc. boosted its position in shares of Rithm Capital by 3.8% during the 1st quarter. Leavell Investment Management Inc. now owns 27,264 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 1,000 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,183 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Rithm Capital by 15.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,200 shares during the period. Finally, Founders Financial Alliance LLC increased its stake in Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 1,286 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM opened at $11.88 on Monday. The stock has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $11.20. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $5.74 billion, a PE ratio of 7.92 and a beta of 1.80. Rithm Capital has a 1 year low of $8.87 and a 1 year high of $12.02.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, analysts predict that Rithm Capital will post 1.82 earnings per share for the current fiscal year.

About Rithm Capital

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.