Neo Ivy Capital Management Has $2.24 Million Holdings in Rithm Capital Corp. (NYSE:RITM)

Neo Ivy Capital Management grew its holdings in Rithm Capital Corp. (NYSE:RITM) by 59.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 207,258 shares of the real estate investment trust’s stock after buying an additional 77,204 shares during the quarter. Neo Ivy Capital Management’s holdings in Rithm Capital were worth $2,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. 1620 Investment Advisors Inc. increased its position in shares of Rithm Capital by 2.1% in 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 buying an additional 960 shares in the last quarter. Summit Trail Advisors LLC boosted its position 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 worth $547,000 after purchasing an additional 967 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Rithm Capital by 2.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 1,016 shares during the period. Vident Advisory LLC lifted its holdings in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 1,051 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Rithm Capital by 3.7% during the fourth 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. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.18 on Friday. The firm has a market capitalization of $5.93 billion, a PE ratio of 6.69 and a beta of 1.32. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average price of $10.97 and a two-hundred day moving average price of $11.17. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20.

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

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.94%. The ex-dividend date was Monday, March 31st. Rithm Capital’s payout ratio is currently 83.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RITM. Jones Trading reaffirmed a “buy” rating and set a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Monday. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Piper Sandler raised shares of Rithm Capital from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has an average rating of “Buy” and a consensus 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.