Piper Sandler Issues Positive Forecast for Rithm Capital (NYSE:RITM) Stock Price

Rithm Capital (NYSE:RITM) had its price objective boosted by investment analysts at Piper Sandler from $11.50 to $12.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 6.07% from the stock’s previous close.

A number of other analysts have also commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. One investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Down 1.0 %

NYSE:RITM traded down $0.13 on Friday, hitting $11.79. The stock had a trading volume of 280,716 shares, compared to its average volume of 3,715,496. The stock has a market cap of $6.13 billion, a P/E ratio of 11.90 and a beta of 1.79. Rithm Capital has a 1 year low of $10.06 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm’s fifty day simple moving average is $11.13 and its two-hundred day simple moving average is $11.14.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. Analysts predict that Rithm Capital will post 1.95 earnings per share for the current year.

Institutional Trading of Rithm Capital

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,183 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Rithm Capital by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 122,684 shares of the real estate investment trust’s stock valued at $1,338,000 after acquiring an additional 7,965 shares in the last quarter. Creative Planning lifted its stake in Rithm Capital by 5.9% in the 2nd quarter. Creative Planning now owns 63,957 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 3,557 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Rithm Capital during the second quarter worth about $173,000. 44.92% of the stock is 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.