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

Rithm Capital Corp. (NYSE:RITM) shares 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RITM. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Finally, JMP Securities raised their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Rithm Capital Stock Performance

The firm has a market capitalization of $5.71 billion, a P/E ratio of 7.87 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average of $11.46 and a 200-day moving average 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 for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.62 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Institutional Trading of Rithm Capital

A number of large investors have recently bought and sold shares of the business. Bluefin Capital Management LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at about $143,000. Sanctuary Advisors LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at about $173,000. Founders Financial Alliance LLC grew its stake in shares of Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 1,286 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at about $1,964,000. Finally, Quarry LP grew its stake in shares of Rithm Capital by 387.2% in the 2nd quarter. Quarry LP now owns 9,316 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 7,404 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

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.