Rithm Capital (NYSE:RITM) Earns Buy Rating from Analysts at Compass Point

Stock analysts at Compass Point assumed coverage on shares of Rithm Capital (NYSE:RITM) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $14.00 price target on the real estate investment trust’s stock. Compass Point’s price target would indicate a potential upside of 53.41% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reduced their price target on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Royal Bank Of Canada dropped their price objective on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 10th. Capital One Financial set a $12.50 target price on shares of Rithm Capital in a report on Thursday, April 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Rithm Capital in a research report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.65.

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $9.13 on Monday. The business has a 50-day moving average of $9.59 and a two-hundred day moving average of $10.36. The firm has a market capitalization of $5.10 billion, a PE ratio of 8.37 and a beta of 1.14. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.27 billion. As a group, research analysts forecast that Rithm Capital will post 2.27 earnings per share for the current year.

Insider Buying and Selling

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. This represents a 64.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC raised its position in shares of Rithm Capital by 99.2% in the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Rithm Capital during the fourth quarter worth approximately $26,000. Bessemer Group Inc. grew its position in shares of Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital in the third quarter worth $31,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Rithm Capital in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.