UBS Group Lowers Rithm Capital (NYSE:RITM) Price Target to $13.00

Rithm Capital (NYSE:RITM) had its target price dropped by equities researchers at UBS Group from $14.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target suggests a potential upside of 28.14% from the company’s previous close.

RITM has been the subject of several other reports. Piper Sandler boosted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $13.21.

Rithm Capital Price Performance

RITM traded up $0.02 during trading on Wednesday, reaching $10.15. 149,158 shares of the company were exchanged, compared to its average volume of 4,533,179. Rithm Capital has a 12-month low of $9.13 and a 12-month high of $12.19. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 6.07 and a beta of 1.36. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average is $11.45 and its two-hundred day moving average is $11.12.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital in the third quarter worth $43,000. Quarry LP raised its holdings in Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,327 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,019 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

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.