Welcome to our dedicated page for Rithm Capital news (Ticker: RITM), a resource for investors and traders seeking the latest updates and insights on Rithm Capital stock.
Rithm Capital Corp. (symbol: RITM) is a dynamic real estate investment trust (REIT) known for its strategic investments and active management within the residential real estate sector. The company, originally known as New Residential Investment Corp., focuses on creating valuable opportunities in the U.S. housing market, which is estimated to be around $19 trillion.
Rithm Capital's core business revolves around four key investment areas:
- Excess Mortgage Servicing Rights (Excess MSRs): These rights allow Rithm Capital to benefit from the servicing of mortgages without owning the actual loans.
- Residential Mortgage-Backed Securities (RMBS): The company invests in securities that are secured by residential mortgages, providing steady cash flows from homeowners' mortgage payments.
- Residential Mortgage Loans: Rithm Capital extends financing for residential properties, supporting both homeownership and rental markets.
- Other Opportunistic Investments: The company seeks diverse investment opportunities that arise from structural changes in the housing and mortgage industries.
Leveraging a unique combination of capital, industry expertise, and strategic insight, Rithm Capital aims to generate attractive risk-adjusted returns across various interest-rate environments. The company’s investment strategy is bolstered by its mission to navigate and capitalize on the evolving landscape of the residential mortgage industry, especially following the significant changes post the U.S. financial crisis.
Rithm Capital's portfolio is extensive and includes mortgage servicing-related assets (both full and excess MSRs and servicer advances), residential securities (with associated call rights), residential mortgage loans, and consumer loans. Their approach ensures a balanced and diversified investment that mitigates risks and maximizes returns.
Recent achievements and projects highlight Rithm Capital's proactive stance in the market:
- Strategic Partnerships: Collaborations with companies like Great Ajax Corp. and Sculptor Capital Management, Inc. have strengthened its market position and expanded its portfolio.
- Acquisitions and Investments: Ongoing investments in residential mortgage loans and RMBS contribute significantly to its asset base and revenue generation.
With a commitment to excellence and a keen eye on market developments, Rithm Capital Corp. is well-positioned to navigate the future of residential real estate investment, providing substantial value to its shareholders and the broader financial services industry.
Rithm Capital Corp. (NYSE:RITM) has announced it will release its fourth quarter and full year 2024 financial results on Thursday, February 6, 2025, before the New York Stock Exchange opens. The company will host a conference call at 8:00 A.M. Eastern Time on the same day.
Investors can access the conference call by dialing 1-833-974-2382 (U.S.) or 1-412-317-5787 (international). Pre-registration is available through a provided link. A webcast will be accessible at www.rithmcap.com, and a replay will be available until February 13, 2025, via phone at 1-877-344-7529 (U.S.) or 1-412-317-0088 (international) using access code '9354317'.
Rithm Property Trust (NYSE: RPT) has announced its schedule for the release of fourth quarter 2024 financial results. The company will publish its earnings report for the period ended December 31, 2024, on Thursday, January 30, 2025, before the NYSE opening.
Management will host a conference call on the same day at 8:00 A.M. Eastern Time. Investors can access the call by dialing 1-888-596-4144 (U.S.) or 1-646-968-2525 (international) with conference ID '5035792'. A simultaneous webcast will be available on the company's website, with pre-registration available at the provided link.
A replay of the conference call will be accessible for two weeks until February 13, 2025, through the company's website.
Rithm Capital (NYSE:RITM) has announced its dividend distributions for Q4 2024. The company declared a common stock dividend of $0.25 per share, payable on January 31, 2025, to shareholders of record on December 31, 2024.
The company also declared preferred stock dividends for its various series: Series A at $0.6763961 per share (10.587% rate), Series B at $0.6660461 per share (10.425% rate), Series C at $0.3984375 per share (6.375% rate), and Series D at $0.4375000 per share (7.000% rate). All preferred dividends will be paid on February 18, 2025, to shareholders of record on January 31, 2025.
KBRA has assigned preliminary ratings to 8 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2024-NQM3, a $272.5 million non-prime RMBS transaction sponsored by Rithm Capital Corp (NYSE: RITM). The transaction is backed by 538 residential mortgages, with NewRez originating 71.4% and Champions Funding, originating 12.2% of the loans.
The loan pool features borrowers with a weighted average original credit score of 751 and a weighted average original loan-to-value ratio of 72.0%. The portfolio consists predominantly of fixed-rate mortgages (99.7%), with a small portion of adjustable-rate mortgages (0.3%). Approximately 7.7% of the pool has an initial interest-only period, and the loans are seasoned approximately one month.
Great Ajax Corp (NYSE: AJX) announced its rebranding to Rithm Property Trust Inc, effective December 2, 2024. The company's common stock will begin trading under the new ticker symbol 'RPT' on the New York Stock Exchange starting December 3, 2024, replacing the current 'AJX' symbol. The CUSIP remains unchanged, and shareholders need not take any action. The rebranding marks a new phase in the company's development as an opportunistic real estate investment platform and strengthens its relationship with Rithm Capital Corp (NYSE: RITM), a global asset manager.
Rithm Capital has successfully closed NZES 2024-FNT1, a $461 million securitized financing note backed by mortgage servicing rights (MSRs). The single-tranche non-recourse transaction provides fixed financing over a 3-year expected life term. The deal was oversubscribed, expanding from an initial $378 million offering size due to strong investor demand. This first-of-its-kind transaction leverages Rithm's scale, strong servicing performance, and high-quality collateral.
Rithm Capital (NYSE: RITM) and its subsidiary Newrez have pledged $500,000 to support disaster relief efforts following Hurricanes Helene and Milton. The funding will support Habitat for Humanity and the Newrez Employee Emergency and Disaster (NEED) Fund. Additionally, Newrez will serve as a corporate sponsor for the SOULSHINE benefit concert at Madison Square Garden on November 24, 2024, featuring Dave Matthews Band and other artists, aimed at supporting hurricane relief efforts.
Rithm Capital (NYSE:RITM) has appointed Ranjit Kripalani and William Addas as independent board members, effective November 1, 2024. Kripalani will serve on the Nominating and Corporate Governance Committee and chair the Mortgage and Regulatory Compliance Committee, while Addas joins the Audit and Compensation Committees. Additionally, Andrew Sloves is stepping down from his director position to join as Managing Director and investment committee member. Both new directors bring extensive capital markets experience, with Kripalani's background in mortgage trading and Addas's expertise in financial institutions and specialty finance.
Rithm Capital (RITM) reported Q3 2024 financial results with GAAP net income of $97.0 million ($0.20 per diluted share) and earnings available for distribution of $270.3 million ($0.54 per diluted share). The company maintained its common dividend at $0.25 per share, totaling $129.9 million. Key highlights include a total servicing portfolio of $878 billion UPB, origination funded production volume of $15.9 billion (up 9% QoQ), and approximately $34 billion in assets under management through Sculptor. The company sold 30 million shares of common stock for gross proceeds of approximately $340 million.
Rithm Capital Corp. (NYSE:RITM) has announced the schedule for its third quarter 2024 earnings release and conference call. The company will release its financial results for the period ended September 30, 2024, on Tuesday, October 29, 2024, before the New York Stock Exchange opens. Management will host a conference call on the same day at 8:00 A.M. Eastern Time.
Investors can access the earnings release on the company's website and join the conference call by dialing 1-833-974-2382 (U.S.) or 1-412-317-5787 (outside U.S.). Pre-registration for the call is available. A simultaneous webcast will be accessible on the company's website. A telephonic replay will be available until November 5, 2024.
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