Neo Ivy Capital Management Decreases Position in Rithm Capital Corp. (NYSE:RITM)

Neo Ivy Capital Management trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 92.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,104 shares of the real estate investment trust’s stock after selling 47,412 shares during the period. Neo Ivy Capital Management’s holdings in Rithm Capital were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. Chicago Partners Investment Group LLC raised its stake in shares of Rithm Capital by 36.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 38,132 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 10,236 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the last quarter. Bluefin Capital Management LLC purchased a new stake in Rithm Capital in the 4th quarter worth approximately $504,000. Fort Sheridan Advisors LLC grew its position in shares of Rithm Capital by 4.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 207,923 shares of the real estate investment trust’s stock worth $2,221,000 after buying an additional 8,500 shares during the last quarter. Finally, Clear Street Markets LLC increased its stake in shares of Rithm Capital by 810.0% during the fourth quarter. Clear Street Markets LLC now owns 27,300 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 24,300 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

Shares of RITM stock traded down $0.11 on Friday, reaching $11.15. The stock had a trading volume of 1,929,138 shares, compared to its average volume of 2,659,028. The stock has a market cap of $5.39 billion, a P/E ratio of 7.44 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $11.60. The company has a 50 day simple moving average of $11.10 and a 200 day simple moving average of $10.87.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RITM. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, May 9th. B. Riley reissued a “buy” rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.32.

About Rithm Capital

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.