Rithm Capital (NYSE:RITM) Price Target Raised to $13.50 at Keefe, Bruyette & Woods

Rithm Capital (NYSE:RITM) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $13.00 to $13.50 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 21.08% from the company’s previous close.

RITM has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $14.00 price objective 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 research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.89.

Rithm Capital Stock Performance

Shares of RITM traded down $0.05 during mid-day trading on Tuesday, reaching $11.15. The company had a trading volume of 668,206 shares, compared to its average volume of 3,517,519. The stock has a 50 day moving average of $10.82 and a two-hundred day moving average of $11.12. The stock has a market capitalization of $5.79 billion, a P/E ratio of 11.26 and a beta of 1.80. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02. 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 (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, analysts expect that Rithm Capital will post 1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC acquired a new position in Rithm Capital during the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital in the third quarter valued at about $43,000. Godsey & Gibb Inc. acquired a new position in Rithm Capital during the 3rd quarter worth approximately $51,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Rithm Capital during the 3rd quarter worth $73,000. 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.