Rithm Capital (NYSE:RITM) Receives Outperform Rating from Royal Bank of Canada

Rithm Capital (NYSE:RITM)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They presently have a $13.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 18.45% from the company’s current price.

Separately, Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Trading Up 1.7 %

NYSE:RITM opened at $10.98 on Thursday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 11.09 and a beta of 1.80. 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 company’s 50 day moving average price is $10.92 and its 200-day moving average price is $11.14. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period last year, the business posted $0.58 EPS. On average, equities research analysts forecast that Rithm Capital will post 1.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after buying an additional 378,931 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 7.8% in the 3rd 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. Charles Schwab Investment Management Inc. raised its holdings in Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the period. Long Pond Capital LP purchased a new position in Rithm Capital during the first quarter valued at $53,025,000. Finally, Azora Capital LP grew its holdings in Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares during the period. 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.