Rithm Capital (NYSE:RITM) Price Target Lowered to $12.50 at Piper Sandler

Rithm Capital (NYSE:RITM) had its price target lowered by investment analysts at Piper Sandler from $14.00 to $12.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective indicates a potential upside of 33.62% from the company’s previous close.

Several other equities research analysts also recently commented on RITM. Royal Bank Of Canada decreased their price objective on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Capital One Financial set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price target 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. Citizens Jmp boosted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Finally, Wedbush lowered their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Rithm Capital Stock Performance

Shares of RITM opened at $9.36 on Thursday. Rithm Capital has a one year low of $8.43 and a one year high of $12.74. The company has a market cap of $5.22 billion, a PE ratio of 8.58 and a beta of 1.13. The stock has a 50-day moving average of $9.42 and a 200-day moving average of $10.11. 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 (NYSE:RITM) last posted its quarterly 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. On average, equities research analysts predict that Rithm Capital will post 2.27 EPS for the current fiscal year.

Insider Activity at Rithm Capital

In other news, Director David Saltzman sold 80,922 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director owned 44,248 shares in the company, valued at $409,294. This trade represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RITM. CoreCap Advisors LLC lifted its stake in Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rithm Capital in the 4th quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in shares of Rithm Capital in the fourth quarter valued at about $31,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Rithm Capital in the fourth quarter valued at about $31,000. Finally, Altshuler Shaham Ltd raised its holdings in shares of Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.