Rithm Capital (NYSE:RITM) Reaches New 1-Year High at $11.95

Rithm Capital Corp. (NYSE:RITM)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $11.95 and last traded at $11.90, with a volume of 2007605 shares changing hands. The stock had previously closed at $11.77.

Analysts Set New Price Targets

Several analysts recently issued reports on RITM shares. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. JMP Securities upped their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.60.

Rithm Capital Stock Down 0.7 %

The company has a market cap of $5.71 billion, a price-to-earnings ratio of 7.87 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50-day moving average price of $11.46 and a 200 day moving average price of $11.18.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. Sell-side analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current year.

Institutional Investors Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in RITM. Norges Bank bought a new stake in Rithm Capital during the fourth quarter worth $63,896,000. Long Pond Capital LP bought a new position in shares of Rithm Capital in the 1st quarter valued at $53,025,000. MGO One Seven LLC lifted its stake in shares of Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 751,895 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after acquiring an additional 607,413 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after acquiring an additional 378,931 shares during the last quarter. 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.