Rithm Capital Corp. (NYSE:RITM) Receives $12.60 Consensus Target Price from Analysts

Rithm Capital Corp. (NYSE:RITM) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.60.

Several research firms have weighed in on RITM. JMP Securities raised their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bluefin Capital Management LLC purchased a new stake in shares of Rithm Capital in the second quarter valued at $143,000. Sanctuary Advisors LLC acquired a new position in Rithm Capital in the second quarter valued at $173,000. Founders Financial Alliance LLC boosted its holdings in Rithm Capital by 2.6% in the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 1,286 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Rithm Capital in the second quarter valued at $1,964,000. Finally, Quarry LP boosted its holdings in Rithm Capital by 387.2% in the second quarter. Quarry LP now owns 9,316 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 7,404 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE RITM opened at $11.88 on Monday. Rithm Capital has a 1-year low of $8.87 and a 1-year high of $12.02. The company has a market capitalization of $5.74 billion, a P/E ratio of 7.92 and a beta of 1.80. The business has a 50 day moving average price of $11.49 and a 200 day moving average price of $11.20. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. Rithm Capital’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. Sell-side analysts expect that Rithm Capital will post 1.82 EPS for the current fiscal year.

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.