JMP Securities Reiterates “Market Outperform” Rating for Rithm Capital (NYSE:RITM)

Rithm Capital (NYSE:RITM)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They currently have a $11.00 price objective on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 1.66% from the stock’s previous close.

A number of other analysts have also commented on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday. Jonestrading raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Argus raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, B. Riley raised their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $12.00.

Rithm Capital Stock Up 1.6 %

Shares of Rithm Capital stock opened at $10.82 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. Rithm Capital has a 52-week low of $7.59 and a 52-week high of $11.33. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.84 and a beta of 1.82. The company’s 50 day moving average price is $10.82 and its 200-day moving average price is $10.41.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The firm had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter last year, the business earned $0.33 earnings per share. Equities research analysts forecast that Rithm Capital will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Rithm Capital

Large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its holdings in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares in the last quarter. American National Bank bought a new stake in Rithm Capital in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. increased its holdings in Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares in the last quarter. GAMMA Investing LLC bought a new stake in Rithm Capital in the 4th quarter worth about $34,000. Finally, Lazard Asset Management LLC bought a new stake in Rithm Capital in the 4th quarter worth about $34,000. 44.92% of the stock is currently owned by institutional investors.

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.