Eric Hagen, an analyst from BTIG, maintained the Buy rating on Rithm Capital (RITM – Research Report). The associated price target is $13.00.
Eric Hagen’s Buy rating for Rithm Capital is anchored in the company’s strategic initiatives and its potential for value creation post-acquisition. Rithm’s recent acquisition of Sculptor is seen as a step towards significant restructuring aimed at scaling up its presence as an alternative asset manager. The firm’s plan to leverage the infrastructure from Sculptor is intended to establish a broader asset management platform, which would oversee various verticals and separately managed vehicles. This move is anticipated to enhance Rithm’s asset management capabilities and is a key factor in Hagen’s positive outlook.
Additionally, Rithm Capital’s focus on spinning out its origination and servicing platform, New Rez, into an independent entity is another point of interest for Hagen. He views this spin-off as a strategic effort to streamline Rithm’s capital structure and reinforce its core operations. The company also remains open to pursuing further acquisitions and mergers as a means to build scale and attract additional capital. These growth-oriented strategies underpin Hagen’s Buy recommendation, as they are expected to drive Rithm’s performance and shareholder value in the foreseeable future.
According to TipRanks, Hagen is a 2-star analyst with an average return of -0.4% and a 47.67% success rate. Hagen covers the Real Estate sector, focusing on stocks such as AGNC Investment, Chimera Investment, and Dynex Capital.
In another report released on February 9, Compass Point also maintained a Buy rating on the stock with a $12.00 price target.
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Rithm Capital (RITM) Company Description:
New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate. The Corporate segment includes general and administrative expenses, the management fees and incentive compensation, and corporate cash and related interest income. The company was founded in 2011 and is headquartered in New York, NY.
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