17 Cheap Stocks Under $20 to Buy Now

10. Rithm Capital Corp. (NYSE:RITM)

Stock Price: $11.16

Forward P/E: 5.16

Number of Hedge Fund Holders: 37

Rithm Capital Corp. (NYSE:RITM) is one of the top cheap stocks under $20 to buy now. Piper Sandler analyst Crispin Love reaffirmed a bullish stance on Rithm Capital Corp. (NYSE:RITM) on December 22, assigning the stock a Buy rating with a $15.50 price target.

In another development, Rithm Capital Corp. (NYSE:RITM) announced on December 19 the successful completion of its previously announced acquisition of Paramount Group, Inc., with the portfolio including 13 owned and 4 managed high-quality office assets, totaling more than 13.1 million square feet. Paramount Group, Inc. is a vertically-integrated real estate investment trust that owns, manages, and operates Class A office properties in San Francisco and New York City.

Rithm Capital Corp. (NYSE:RITM) stated that the completed acquisition bolsters the company’s fully integrated and diversified asset management platform meaningfully, expanding its commercial real estate footprint and enabling it to seek further development of the portfolio through this expanded presence. The company also seeks to enhance the overall tenant experience by leveraging its established owner-operator model to stimulate growth for the acquired assets.

According to the management, Paramount would be integrated into Rithm Capital Corp.’s (NYSE:RITM) platform and be rebranded to position it for new opportunities across the portfolio. lbert Behler, Chairman, Chief Executive Officer, and President of Paramount, would depart the company following the closing of the transaction.

Rithm Capital Corp. (NYSE:RITM) provides real estate, credit, and financial services. The company’s operations are divided into the following segments: Origination and Servicing, Investment Portfolio, Residential Transitional Lending, Asset Management, and Corporate.