Rithm Capital (NYSE:RITM) Upgraded to “Strong-Buy” at B. Riley

Rithm Capital (NYSE:RITM) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on RITM. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.96 on Tuesday. The stock has a market cap of $5.70 billion, a PE ratio of 11.07 and a beta of 1.79. Rithm Capital has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The company’s fifty day moving average is $10.92 and its 200 day moving average is $11.10.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the prior year, the firm earned $0.58 earnings per share. Research analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 worth $27,000 after purchasing an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Rithm Capital during the 3rd quarter worth $43,000. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital during the 3rd quarter valued at approximately $43,000. Godsey & Gibb Inc. acquired a new stake in Rithm Capital in the third quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Rithm Capital during the third quarter worth about $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.