Rithm Capital (NYSE:RITM) Stock Rating Upgraded by B. Riley

Rithm Capital (NYSE:RITM) was upgraded by equities researchers at B. Riley to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.94.

Rithm Capital Trading Down 0.4 %

Shares of NYSE RITM opened at $10.96 on Tuesday. The business has a fifty day simple moving average of $10.92 and a 200-day simple moving average of $11.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 11.07 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Sell-side analysts predict that Rithm Capital will post 1.93 EPS for the current year.

Institutional Trading of Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in RITM. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after purchasing an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Azora Capital LP raised its holdings in shares of Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after acquiring an additional 978,954 shares during the last quarter. Hedge funds and other 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.