Neo Ivy Capital Management Buys Shares of 130,054 Rithm Capital Corp. (NYSE:RITM)

Neo Ivy Capital Management acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 130,054 shares of the real estate investment trust's stock, valued at approximately $1,476,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust's stock worth $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Rithm Capital in the 3rd quarter worth about $43,000. Godsey & Gibb Inc. bought a new position in shares of Rithm Capital in the 3rd quarter worth about $51,000. Future Financial Wealth Managment LLC bought a new position in shares of Rithm Capital in the 3rd quarter worth about $73,000. Finally, Summit Securities Group LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth about $74,000. 44.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RITM shares. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.94.

Rithm Capital Price Performance

Rithm Capital stock traded down $0.04 during trading hours on Wednesday, hitting $11.10. 1,538,755 shares of the company traded hands, compared to its average volume of 3,501,217. The firm has a market cap of $5.77 billion, a P/E ratio of 11.26 and a beta of 1.80. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm's 50-day simple moving average is $10.80 and its two-hundred day simple moving average is $11.12. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analysts' expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.01%. Rithm Capital's dividend payout ratio is currently 101.01%.

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.