B. Riley Reiterates Buy Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research note issued to investors on Friday, Benzinga reports. They currently have a $14.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $13.00. B. Riley’s price objective would indicate a potential upside of 23.24% from the stock’s current price.

RITM has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Argus lifted their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Jonestrading lifted their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.14.

Rithm Capital Price Performance

Shares of NYSE RITM traded up $0.04 during midday trading on Friday, reaching $11.36. 404,907 shares of the company traded hands, compared to its average volume of 3,402,658. The firm has a market cap of $5.49 billion, a PE ratio of 7.57 and a beta of 1.80. The stock’s 50-day simple moving average is $11.00 and its 200-day simple moving average is $10.60. Rithm Capital has a 12 month low of $7.80 and a 12 month high of $11.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same period last year, the business earned $0.33 earnings per share. As a group, equities analysts anticipate that Rithm Capital will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Rithm Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in shares of Rithm Capital by 605.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,136 shares in the last quarter. American National Bank acquired a new position in shares of Rithm Capital during the fourth quarter worth $27,000. Raleigh Capital Management Inc. increased its position in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the period. GAMMA Investing LLC acquired a new stake in Rithm Capital during the 4th quarter worth about $34,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Rithm Capital during the 4th quarter worth about $43,000. Institutional investors own 44.92% of the company’s stock.

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.