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

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $14.00 target price on the real estate investment trust’s stock. Wedbush’s price objective points to a potential upside of 20.43% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. UBS Group lowered their price target on Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and increased their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Jones Trading restated a “buy” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.56.

Rithm Capital Price Performance

NYSE:RITM opened at $11.63 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company has a 50 day moving average price of $10.98 and a 200-day moving average price of $11.15. Rithm Capital has a 1-year low of $9.13 and a 1-year high of $12.20. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 6.96 and a beta of 1.32.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. The company had revenue of $28.89 million during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. Equities research analysts forecast that Rithm Capital will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 945 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after acquiring an additional 960 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after purchasing an additional 967 shares in the last quarter. Private Advisor Group LLC increased its holdings in Rithm Capital by 2.0% in the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock valued at $578,000 after buying an additional 974 shares during the last quarter. Finally, Fourth Dimension Wealth LLC raised its stake in Rithm Capital by 50.0% in the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.