Rithm Capital (NYSE:RITM – Get Rating) had its price objective reduced by analysts at Credit Suisse Group to $11.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Credit Suisse Group’s price target points to a potential upside of 46.86% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Piper Sandler raised shares of Rithm Capital from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $9.00 in a report on Friday, September 30th. Raymond James cut their price objective on shares of Rithm Capital from $13.00 to $12.50 and set an “outperform” rating on the stock in a report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus price target of $11.40.
Rithm Capital Stock Performance
NYSE:RITM traded up $0.09 during trading hours on Thursday, hitting $7.49. 190,973 shares of the company were exchanged, compared to its average volume of 6,543,119. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 3.75 and a beta of 1.73. Rithm Capital has a 52-week low of $6.86 and a 52-week high of $11.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.52 and a quick ratio of 0.52. The company’s 50 day moving average price is $8.95 and its 200-day moving average price is $9.88.
Rithm Capital (NYSE:RITM – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Rithm Capital had a net margin of 20.51% and a return on equity of 13.69%. During the same period in the prior year, the company posted $0.31 EPS. As a group, research analysts forecast that Rithm Capital will post 1.24 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in RITM. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rithm Capital by 1,507.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,259,186 shares of the real estate investment trust’s stock valued at $13,826,000 after acquiring an additional 1,180,866 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Rithm Capital by 52.8% in the 1st quarter. First Trust Advisors LP now owns 2,728,315 shares of the real estate investment trust’s stock valued at $29,957,000 after purchasing an additional 943,227 shares during the period. Advisors Capital Management LLC boosted its position in shares of Rithm Capital by 61.6% in the 1st quarter. Advisors Capital Management LLC now owns 1,988,693 shares of the real estate investment trust’s stock valued at $21,836,000 after purchasing an additional 758,276 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Rithm Capital by 869.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 739,340 shares of the real estate investment trust’s stock valued at $6,890,000 after purchasing an additional 663,078 shares during the period. Finally, LSV Asset Management lifted its stake in Rithm Capital by 11.3% in the 1st quarter. LSV Asset Management now owns 6,507,272 shares of the real estate investment trust’s stock worth $71,450,000 after acquiring an additional 660,211 shares in the last quarter. Institutional investors and hedge funds own 46.51% of the company’s stock.
About Rithm Capital
Rithm Capital Corp. provides capital and services to the real estate and financial services sectors in the United States. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and consumer loans. It qualifies as a real estate investment trust for federal income tax purposes.