Neo Ivy Capital Management Purchases 77,204 Shares of Rithm Capital Corp. (NYSE:RITM)

Neo Ivy Capital Management boosted its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 59.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,258 shares of the real estate investment trust's stock after buying an additional 77,204 shares during the period. Neo Ivy Capital Management's holdings in Rithm Capital were worth $2,244,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. boosted its position in shares of Rithm Capital by 2.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock valued at $499,000 after acquiring an additional 960 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Rithm Capital by 2.0% during the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust's stock valued at $547,000 after purchasing an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Rithm Capital by 2.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust's stock valued at $388,000 after purchasing an additional 1,016 shares during the last quarter. Vident Advisory LLC lifted its position in Rithm Capital by 7.3% during the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after purchasing an additional 1,051 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Rithm Capital by 3.7% in the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust's stock worth $352,000 after buying an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Trading Down 0.8%

Shares of RITM stock traded down $0.09 on Wednesday, reaching $11.22. 1,727,767 shares of the company's stock were exchanged, compared to its average volume of 4,018,249. The company's fifty day simple moving average is $10.93 and its 200 day simple moving average is $11.18. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.95 billion, a PE ratio of 6.72 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same period last year, the company earned $0.48 earnings per share. As a group, analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.92%. Rithm Capital's payout ratio is 83.33%.

Wall Street Analyst Weigh In

RITM has been the topic of several recent research reports. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reissued a "buy" rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 29th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, May 20th. Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Monday, May 19th. Finally, BTIG Research restated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $13.56.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.