Jones Trading Boosts Rithm Capital (NYSE:RITM) Price Target to $13.50

Rithm Capital (NYSE:RITM) had its price target increased by stock analysts at Jones Trading from $12.50 to $13.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Jones Trading’s price target points to a potential upside of 10.66% from the company’s current price.

RITM has been the topic of a number of other research reports. BTIG Research restated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Monday, May 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, May 20th. UBS Group restated a “buy” rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Finally, Piper Sandler raised shares of Rithm Capital from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $13.88.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $12.20 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. Rithm Capital has a twelve month low of $9.13 and a twelve month high of $12.59. The business has a 50-day moving average price of $11.54 and a 200 day moving average price of $11.37. The firm has a market cap of $6.47 billion, a PE ratio of 9.38 and a beta of 1.25.

Rithm Capital (NYSE:RITM) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. Sell-side analysts predict that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of Rithm Capital

Several hedge funds have recently made changes to their positions in the company. Barclays PLC raised its position in shares of Rithm Capital by 1.2% during the 4th quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust’s stock valued at $2,379,000 after buying an additional 2,701 shares during the period. Wedbush Securities Inc. lifted its holdings in Rithm Capital by 13.7% in the fourth quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock valued at $2,509,000 after acquiring an additional 27,924 shares during the last quarter. KBC Group NV lifted its holdings in Rithm Capital by 24.0% in the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 4,423 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after acquiring an additional 184,802 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Rithm Capital by 5.9% in the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 1,502 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.