Rithm Capital (NYSE:RITM) Stock Rating Upgraded by Wall Street Zen

Rithm Capital (NYSE:RITM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages have also weighed in on RITM. Wedbush dropped their target price on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Citigroup restated an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th. JonesTrading reaffirmed a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 28th. Capital One Financial set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, April 9th. Finally, BTIG Research decreased their price objective on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and an average price target of $13.20.

Rithm Capital Stock Performance

RITM stock opened at $9.88 on Friday. The firm has a 50 day simple moving average of $9.27 and a 200 day simple moving average of $9.83. Rithm Capital has a 52 week low of $8.43 and a 52 week high of $12.74. The stock has a market cap of $5.52 billion, a P/E ratio of 16.47 and a beta of 1.14. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 0.90.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Research analysts anticipate that Rithm Capital will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director owned 44,248 shares in the company, valued at $409,294. This trade represents a 64.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is owned by company insiders.

Institutional Trading of Rithm Capital

Several hedge funds have recently added to or reduced their stakes in RITM. CoreCap Advisors LLC boosted its position in shares of Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares during the period. Los Angeles Capital Management LLC acquired a new position in Rithm Capital during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Rithm Capital in the 4th quarter valued at $31,000. FNY Investment Advisers LLC acquired a new stake in Rithm Capital in the 4th quarter worth $31,000. Finally, Torren Management LLC bought a new position in shares of Rithm Capital during the 4th quarter worth about $35,000. Institutional investors own 44.92% of the company’s stock.

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.