Rithm Capital (NYSE:RITM) Upgraded to Strong-Buy at UBS Group

Rithm Capital (NYSE:RITM) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on RITM. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Piper Sandler restated an “overweight” rating and set a $15.50 target price on shares of Rithm Capital in a report on Monday, December 22nd. Jones Trading reaffirmed a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Finally, Wedbush assumed coverage on Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $14.44.

Rithm Capital Stock Up 2.1%

Shares of Rithm Capital stock opened at $11.39 on Thursday. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 7.85 and a beta of 1.21. The stock has a 50-day simple moving average of $11.13 and a 200-day simple moving average of $11.56. Rithm Capital has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. On average, equities research analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of Rithm Capital stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $11.11, for a total value of $214,256.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rithm Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Rithm Capital in the 2nd quarter valued at $30,000. Bessemer Group Inc. increased its holdings in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,306 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Rithm Capital during the third quarter valued at about $31,000. Mather Group LLC. bought a new stake in shares of Rithm Capital in the third quarter valued at about $33,000. Finally, Optimum Investment Advisors grew its position in Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.