JMP Securities Reaffirms “Market Outperform” Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $12.50 target price on the real estate investment trust’s stock. JMP Securities’ price target would indicate a potential upside of 10.47% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Trading Up 0.5 %

RITM stock traded up $0.06 during trading on Thursday, hitting $11.32. 300,655 shares of the company traded hands, compared to its average volume of 3,679,770. The company has a 50-day moving average of $11.02 and a 200-day moving average of $11.12. Rithm Capital has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $5.88 billion, a PE ratio of 11.43 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.58 EPS. Analysts predict that Rithm Capital will post 1.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

A number of large investors have recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC lifted its position in shares of Rithm Capital by 2.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 57,849 shares of the real estate investment trust’s stock worth $657,000 after purchasing an additional 1,457 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Rithm Capital in the fourth quarter valued at about $120,000. KBC Group NV lifted its stake in Rithm Capital by 59.5% in the fourth quarter. KBC Group NV now owns 18,423 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 6,872 shares during the period. Register Financial Advisors LLC grew its holdings in Rithm Capital by 37.5% during the 4th quarter. Register Financial Advisors LLC now owns 13,577 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 3,700 shares in the last quarter. Finally, PFG Investments LLC increased its position in Rithm Capital by 44.5% during the 4th quarter. PFG Investments LLC now owns 94,335 shares of the real estate investment trust’s stock valued at $1,022,000 after purchasing an additional 29,073 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.