Rithm Capital Corporation [NYSE: RITM] surged by $0.06 during the normal trading session on while it closed the day at $10.76. The company report on April 9, 2024 at 4:47 PM that Genesis Capital Closes Largest Ever Rated Residential Transition Loan Securitization.
Offering Received Broad Participation From 46 Investors.
Genesis Capital LLC (“Genesis”), a leading business purpose lender that provides innovative debt solutions to professional real estate developers for new acquisition, renovation, ground-up construction, and long-term rental hold projects across the residential spectrum, today announced it has completed a $500 million rated securitization backed by residential transition loans (“RTL”). The transaction, which received support from 46 investors, represents the largest-ever rated residential transition loan securitization and the first rated transaction focused on ground-up construction.
Rithm Capital Corporation stock has also loss -0.09% of its value over the past 7 days. However, RITM stock has inclined by 1.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.33% and gained 0.75% year-on date.
The market cap for RITM stock reached $5.20 billion, with 483.23 million shares outstanding and 480.56 million shares in the current float. Compared to the average trading volume of 3.52M shares, RITM reached a trading volume of 2950465 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Rithm Capital Corporation [RITM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RITM shares is $12.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RITM stock is a recommendation set at 1.25. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Rithm Capital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 06, 2023. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on December 16, 2022, representing the official price target for Rithm Capital Corporation stock. Previously, the target price had yet another drop from $10 to $9, while Piper Sandler kept a Neutral rating on RITM stock.
The Average True Range (ATR) for Rithm Capital Corporation is set at 0.20, with the Price to Sales ratio for RITM stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 3.46. Price to Free Cash Flow for RITM in the course of the last twelve months was 4.72.
RITM stock trade performance evaluation
Rithm Capital Corporation [RITM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.09. With this latest performance, RITM shares dropped by -3.24% in over the last four-week period, additionally plugging by 15.33% over the last 6 months – not to mention a rise of 35.86% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RITM stock in for the last two-week period is set at 45.15, with the RSI for the last a single of trading hit 41.84, and the three-weeks RSI is set at 47.40 for Rithm Capital Corporation [RITM]. The present Moving Average for the last 50 days of trading for this stock 10.78, while it was recorded at 10.86 for the last single week of trading, and 10.19 for the last 200 days.
Earnings per share (EPS) analysis for Rithm Capital Corporation [RITM] stock
With the latest financial reports released by the company, Rithm Capital Corporation posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RITM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rithm Capital Corporation go to 14.14%.
Rithm Capital Corporation [RITM]: Institutional Ownership
The top three institutional holders of RITM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RITM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RITM stock with ownership which is approximately 5.8386%.
