Rithm Capital (NYSE:RITM) Raised to Strong-Buy at B. Riley

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

A number of other brokerages have also weighed in on RITM. Keefe, Bruyette & Woods boosted 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. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a 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 research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.96 on Tuesday. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The firm has a market capitalization of $5.70 billion, a P/E ratio of 11.07 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $11.10.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating 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 company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company earned $0.58 EPS. On average, equities analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after acquiring an additional 2,504,529 shares during the period. Azora Capital LP lifted its position in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after purchasing an additional 2,271,671 shares during the last quarter. Soros Fund Management LLC purchased a new stake in shares of Rithm Capital during the third quarter valued at $23,835,000. Seven Grand Managers LLC purchased a new stake in shares of Rithm Capital during the third quarter valued at $11,918,000. Finally, Maven Securities LTD bought a new position in shares of Rithm Capital in the third quarter worth about $11,350,000. 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.