Wedbush Reiterates Outperform Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Thursday,RTT News reports. They presently have a $14.00 price objective on the real estate investment trust’s stock. Wedbush’s target price suggests a potential upside of 31.21% from the company’s current price.

Other analysts also recently issued reports about the company. JMP Securities increased their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Trading Up 1.0 %

Rithm Capital stock traded up $0.11 during trading hours on Thursday, hitting $10.67. The stock had a trading volume of 3,456,458 shares, compared to its average volume of 3,536,989. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital has a one year low of $9.68 and a one year high of $12.02. The business’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $11.17. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 10.78 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.91% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.58 earnings per share. On average, equities analysts predict that Rithm Capital will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after acquiring an additional 378,931 shares during the last quarter. Long Pond Capital LP purchased a new stake in shares of Rithm Capital in the first quarter worth approximately $53,025,000. BlueCrest Capital Management Ltd lifted its holdings in shares of Rithm Capital by 1.0% in the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after purchasing an additional 21,424 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Rithm Capital by 20.7% during 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 last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Rithm Capital by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after buying an additional 158,857 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.