Richard Drury
Rithm Capital Corp (NYSE:RITM) continued gains for a seventh straight session, as the stock closed 0.76% higher at $11.93 on Friday.
The New-York based investment management company gained 3.86% in the preceding six sessions. The stock has gained 11.38% so far this year, compared to about 17% rise in the broader S&P 500 Index.
RITM is up 4% over the past one month. The stock closed 1.11% higher on Thursday at $11.84.
Wall Street analysts have given the stock a rating of 4.5. 11 analysts recommend BUY and above for the stock, 1 analyst recommends to HOLD the stock, while none of the analysts recommend SELL.
Seeking Alpha analysts are also bullish on the stock and have rated the stock a BUY.
Rithm Capital (RITM) posted stronger-than-expected Q2 revenue and earnings last month, as interest income and gains on originated residential mortgage loans climbed during the quarter.
The Asian Investor believes Rithm Capital is a high-yielding investment opportunity with a growing asset management focus and diversified portfolio, adding that the biggest potential headwind is that a considerable portion of its investment capital is invested in mortgage servicing rights, which are rate-sensitive.
