Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Rithm Capital (NYSE:RITM) Stock

Rithm Capital (NYSE:RITM) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $13.00 to $13.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 21.08% from the company’s current price.

RITM has been the topic of several other research reports. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.89.

Rithm Capital Stock Down 0.1 %

Shares of NYSE RITM opened at $11.15 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital has a one year low of $9.97 and a one year high of $12.02. The stock has a market capitalization of $5.80 billion, a P/E ratio of 11.26 and a beta of 1.80. The firm’s 50 day simple moving average is $10.81 and its two-hundred day simple moving average is $11.12.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business earned $0.58 earnings per share. As a group, analysts expect that Rithm Capital will post 1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Rithm Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Rithm Capital by 154.4% during the second 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 purchased a new position in Rithm Capital during the third quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital during the third quarter valued at $43,000. Godsey & Gibb Inc. purchased a new position in Rithm Capital during the third quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Rithm Capital during the third quarter valued at $73,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

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.