UBS Group Initiates Coverage on Rithm Capital (NYSE:RITM)

Stock analysts at UBS Group assumed coverage on shares of Rithm Capital (NYSE:RITM) in a research note issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $16.00 price target on the real estate investment trust’s stock. UBS Group’s price target indicates a potential upside of 38.40% from the stock’s current price.

Several other equities research analysts have also recently weighed in on RITM. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. Wedbush began coverage on shares of Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target for the company. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Finally, Jones Trading reiterated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.44.

Rithm Capital Trading Up 1.5%

Shares of NYSE:RITM opened at $11.56 on Thursday. The company has a market cap of $6.41 billion, a P/E ratio of 7.97 and a beta of 1.21. The stock’s 50-day moving average is $11.15 and its 200-day moving average is $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 quick ratio of 0.45 and a current ratio of 0.45.

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

Insider Transactions at Rithm Capital

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 transaction of $214,256.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of the 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. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock worth $889,000 after purchasing an additional 13,166 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Rithm Capital by 5.3% during the 1st quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 1,585 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Rithm Capital during the 1st quarter worth about $455,000. Goldman Sachs Group Inc. increased its position in Rithm Capital by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock valued at $17,627,000 after acquiring an additional 662,585 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its stake in shares of Rithm Capital by 84.2% in the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 24,920 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

About Rithm Capital

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.