Keefe, Bruyette & Woods Increases Rithm Capital (NYSE:RITM) Price Target to $12.50

Rithm Capital (NYSE:RITM) had its target price boosted by Keefe, Bruyette & Woods from $12.00 to $12.50 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.42% from the company’s current price.

A number of other brokerages also recently commented on RITM. JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. B. Riley increased their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Monday, February 26th. Finally, Jonestrading increased their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.05.

Rithm Capital Stock Up 0.6 %

Shares of RITM traded up $0.07 during mid-day trading on Thursday, reaching $11.32. 2,856,578 shares of the stock traded hands, compared to its average volume of 2,945,595. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 7.55 and a beta of 1.80. The stock has a fifty day simple moving average of $10.95 and a 200 day simple moving average of $10.54. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital has a 12-month low of $7.59 and a 12-month high of $11.41.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. During the same quarter in the previous year, the firm posted $0.33 EPS. Sell-side analysts expect that Rithm Capital will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently added to or reduced their stakes in RITM. Norges Bank bought a new position in Rithm Capital in the 4th quarter worth approximately $63,896,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Rithm Capital by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,853,568 shares of the real estate investment trust’s stock valued at $51,836,000 after purchasing an additional 94,989 shares during the period. Northern Trust Corp lifted its holdings in Rithm Capital by 69.3% in the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock worth $35,581,000 after purchasing an additional 1,567,489 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Rithm Capital by 0.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,089,008 shares of the real estate investment trust’s stock valued at $28,697,000 after buying an additional 25,323 shares in the last quarter. Finally, Advisors Capital Management LLC increased its stake in Rithm Capital by 2.8% during the 3rd quarter. Advisors Capital Management LLC now owns 2,435,331 shares of the real estate investment trust’s stock valued at $22,624,000 after buying an additional 66,750 shares during the period. 44.92% of the stock is currently owned by institutional investors.

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.