Rithm Capital (NYSE:RITM) Research Coverage Started at Wedbush

Wedbush began coverage on shares of Rithm Capital (NYSE:RITM) in a report published on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $14.00 price target on the real estate investment trust’s stock.

RITM has been the topic of a number of other research reports. Jones Trading restated a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a report on Thursday, October 30th. BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. UBS Group lifted their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $14.25.

Rithm Capital Stock Performance

RITM opened at $11.16 on Monday. Rithm Capital has a 1 year low of $9.13 and a 1 year high of $12.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a fifty day moving average price of $11.05 and a 200 day moving average price of $11.57. The stock has a market cap of $6.18 billion, a P/E ratio of 7.69 and a beta of 1.22.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. Equities research analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current year.

Insider Buying and Selling at Rithm Capital

In related news, insider David Zeiden sold 19,285 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RITM. Cullen Frost Bankers Inc. purchased a new stake in Rithm Capital during the 2nd quarter worth approximately $30,000. Bessemer Group Inc. grew its stake in shares of Rithm Capital by 658.9% in the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Rithm Capital during the third quarter worth $31,000. Mather Group LLC. purchased a new position in Rithm Capital in the third quarter valued at $33,000. Finally, Optimum Investment Advisors increased its holdings in Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other 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.