B. Riley Upgrades Rithm Capital (NYSE:RITM) to Strong-Buy

Rithm Capital (NYSE:RITM - Get Free Report) was upgraded by investment analysts at B. Riley to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on RITM. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $12.94.

Rithm Capital Trading Down 2.4 %

RITM traded down $0.26 during trading on Tuesday, reaching $10.70. The company had a trading volume of 3,746,488 shares, compared to its average volume of 4,011,896. The business has a 50 day simple moving average of $10.93 and a 200-day simple moving average of $11.10. The stock has a market cap of $5.56 billion, a P/E ratio of 10.81 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $0.58 EPS. On average, equities analysts anticipate that Rithm Capital will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RITM. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 1,525 shares during the period. Truvestments Capital LLC acquired a new position in Rithm Capital in the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the third quarter valued at approximately $43,000. Godsey & Gibb Inc. acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $51,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $73,000. 44.92% of the stock is owned by hedge funds and other 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.