Citizens Jmp Forecasts Strong Price Appreciation for Rithm Capital (NYSE:RITM) Stock

Rithm Capital (NYSE:RITM) had its target price hoisted by analysts at Citizens Jmp from $12.50 to $13.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective points to a potential upside of 49.92% from the stock’s previous close.

Several other analysts also recently weighed in on RITM. UBS Group lowered their price objective on Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, April 10th. Wall Street Zen cut shares of Rithm Capital from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. JonesTrading reiterated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a report on Tuesday, April 28th. Citigroup reissued an “outperform” rating on shares of Rithm Capital in a research report on Wednesday. Finally, Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.61.

Rithm Capital Stock Down 1.4%

Shares of NYSE:RITM opened at $9.01 on Wednesday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 8.26 and a beta of 1.17. The stock’s 50-day moving average price is $9.62 and its 200-day moving average price is $10.53. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. 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 earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. On average, equities analysts anticipate that Rithm Capital will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors have recently bought and sold shares of RITM. CoreCap Advisors LLC lifted its holdings in Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,143 shares during the period. Los Angeles Capital Management LLC bought a new stake in Rithm Capital during the 4th quarter valued at approximately $26,000. Bessemer Group Inc. grew its holdings in shares of Rithm Capital by 658.9% during the 3rd 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 during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Rithm Capital during the 3rd quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Rithm Capital in the 4th quarter worth approximately $31,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Company Profile

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.