Piper Sandler Cuts Rithm Capital (NYSE:RITM) Price Target to $14.00

Rithm Capital (NYSE:RITM) had its price objective decreased by stock analysts at Piper Sandler from $15.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price indicates a potential upside of 48.54% from the company’s current price.

RITM has been the subject of several other reports. Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Wedbush assumed coverage on Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Finally, UBS Group set a $15.00 target price on Rithm Capital in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.36.

Rithm Capital Price Performance

Shares of NYSE:RITM traded down $0.05 during midday trading on Thursday, hitting $9.43. The stock had a trading volume of 689,900 shares, compared to its average volume of 11,923,438. The company’s 50-day moving average price is $10.22 and its 200-day moving average price is $10.86. The company has a market capitalization of $5.24 billion, a P/E ratio of 9.05 and a beta of 1.19. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital has a fifty-two week low of $8.43 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. As a group, equities research analysts predict that Rithm Capital will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RITM. Forty three Eighteen Advisors LLC acquired a new stake in shares of Rithm Capital during the 4th quarter valued at $810,000. Rockefeller Capital Management L.P. grew its position in Rithm Capital by 47.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 311,705 shares of the real estate investment trust’s stock worth $3,398,000 after acquiring an additional 99,880 shares during the last quarter. Fund Advisors of America Inc FL acquired a new position in Rithm Capital in the 4th quarter worth about $206,000. Corient Private Wealth LLC increased its holdings in Rithm Capital by 2.8% in the 4th quarter. Corient Private Wealth LLC now owns 278,811 shares of the real estate investment trust’s stock worth $3,039,000 after purchasing an additional 7,556 shares in the last quarter. Finally, SHP Wealth Management bought a new position in Rithm Capital in the fourth quarter valued at about $70,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.