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

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

A number of other analysts have also recently commented on RITM. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One equities research 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 data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.96 on Tuesday. The company’s 50 day moving average is $10.92 and its 200 day moving average is $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. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 11.07 and a beta of 1.79. Rithm Capital has a 52-week low of $9.97 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results 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 net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.58 EPS. On average, sell-side analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in Rithm Capital by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 1,183 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Rithm Capital by 8.3% in the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC increased its stake in Rithm Capital by 2.6% during the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 1,286 shares during the period. Atomi Financial Group Inc. lifted its holdings in Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 1,481 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Rithm Capital by 2.1% in the 3rd quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock valued at $822,000 after buying an additional 1,508 shares during the period. 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.