Rithm Capital (NYSE:RITM – Get Free Report) had its price target reduced by equities research analysts at BTIG Research from $13.00 to $12.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target indicates a potential upside of 40.93% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group cut their price objective on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Piper Sandler reduced their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Finally, Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.05.
View Our Latest Stock Analysis on Rithm Capital
Rithm Capital Stock Performance
Rithm Capital (NYSE:RITM – Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Equities analysts predict that Rithm Capital will post 2.25 earnings per share for the current year.
Insider Buying and Selling at Rithm Capital
In other news, Director Peggy Hebard sold 14,520 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the transaction, the director owned 82,259 shares of the company’s stock, valued at $837,396.62. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.
Institutional Trading of Rithm Capital
A number of large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its holdings in shares of Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,800 shares during the period. Bogart Wealth LLC raised its holdings in shares of Rithm Capital by 108.5% during the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 2,144 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Rithm Capital during the first quarter worth $41,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Rithm Capital during the second quarter worth $42,000. Finally, Ameritas Advisory Services LLC bought a new stake in Rithm Capital in the 2nd quarter valued at $43,000. Institutional investors own 44.92% of the company’s stock.
About Rithm Capital
Rithm Capital Corp. (NYSE: RITM) is a real estate investment trust and asset management company focused primarily on the residential real estate and mortgage markets. The company invests in and manages mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other real estate-related assets.
Rithm also operates businesses involved in mortgage origination, loan servicing and related financial services. Through its platforms and investments, the company provides financing and servicing solutions connected with residential real estate and manages assets across the housing market.
The company was formerly known as New Residential Investment Corp.
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