Rithm Capital’s (RITM) Outperform Rating Reaffirmed at Royal Bank of Canada

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $13.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.16% from the company’s previous close.

Separately, 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 research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Price Performance

NYSE:RITM traded up $0.09 during mid-day trading on Thursday, reaching $10.73. 298,988 shares of the company were exchanged, compared to its average volume of 3,519,222. Rithm Capital has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a fifty day moving average of $10.93 and a 200 day moving average of $11.14. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.58 billion, a PE ratio of 10.84 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.58 EPS. On average, research analysts anticipate that Rithm Capital will post 1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new stake in shares of Rithm Capital in the third quarter worth $1,476,000. Geode Capital Management LLC lifted its position in shares of Rithm Capital by 7.8% in the third 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 in the last quarter. MML Investors Services LLC lifted its position in shares of Rithm Capital by 9.8% in the third quarter. MML Investors Services LLC now owns 95,352 shares of the real estate investment trust’s stock worth $1,082,000 after purchasing an additional 8,547 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after purchasing an additional 978,954 shares in the last quarter. Finally, Soros Fund Management LLC bought a new stake in shares of Rithm Capital in the third quarter worth $23,835,000. 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.