Rithm Capital (NYSE:RITM) Price Target Raised to $12.50 at Piper Sandler

Rithm Capital (NYSE:RITM) had its price target lifted by research analysts at Piper Sandler from $11.50 to $12.50 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 6.07% from the company’s previous close.

Several other research firms have also recently issued reports on RITM. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.94.

Rithm Capital Price Performance

NYSE RITM traded down $0.13 on Friday, reaching $11.79. The company had a trading volume of 280,716 shares, compared to its average volume of 3,715,496. The firm’s 50 day moving average price is $11.13 and its 200 day moving average price is $11.14. Rithm Capital has a 12 month low of $10.06 and a 12 month high of $12.02. The stock has a market capitalization of $6.13 billion, a PE ratio of 11.90 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. As a group, equities analysts predict that Rithm Capital will post 1.95 earnings per share for the current year.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently bought and sold shares of RITM. Charles Schwab Investment Management Inc. lifted its holdings in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after buying an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Van ECK Associates Corp raised its stake in Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after buying an additional 343,678 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Rithm Capital in the third quarter valued at about $1,476,000. Finally, Meridian Financial Partners LLC acquired a new stake in Rithm Capital during the fourth quarter worth about $898,000. 44.92% of the stock is currently owned by institutional investors.

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.