Rithm Capital (NYSE:RITM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Rithm Capital (NYSE:RITM - Get Free Report) had its price target increased by stock analysts at Piper Sandler from $11.50 to $12.50 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price would indicate a potential upside of 5.53% from the stock's current price.

A number of other brokerages have also weighed in on RITM. JMP Securities reaffirmed a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rithm Capital has an average rating of "Buy" and an average price target of $12.94.

Rithm Capital Trading Down 0.1 %

NYSE:RITM traded down $0.02 during trading hours on Friday, reaching $11.85. The company's stock had a trading volume of 1,374,581 shares, compared to its average volume of 3,719,602. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 7.09 and a beta of 1.79. The firm has a 50-day simple moving average of $11.16 and a 200-day simple moving average of $11.14. 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.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. Research analysts expect that Rithm Capital will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

A number of hedge funds have recently modified their holdings of RITM. JPMorgan Chase & Co. boosted its position in shares of Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Azora Capital LP boosted its position in shares of 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 worth $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of Rithm Capital during the third quarter worth $23,835,000. Seven Grand Managers LLC bought a new position in shares of Rithm Capital during the third quarter worth $11,918,000. Finally, Maven Securities LTD bought a new position in shares of Rithm Capital during the third quarter worth $11,350,000. 44.92% of the stock is currently 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.