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 a public offering of 30,000,000 shares of its common stock, subject to market conditions. The company plans to grant underwriters a 30-day option to purchase up to an additional 4,500,000 shares. Rithm intends to use the net proceeds for general corporate purposes. The offering will be made through a shelf registration statement filed with the SEC.
Several major financial institutions, including Citigroup, Goldman Sachs & Co. , J.P. Morgan, UBS Investment Bank, BTIG, and Wells Fargo Securities, , are acting as joint book-running managers for the offering. The shares may be offered in negotiated transactions or otherwise, at prevailing market prices or related prices.
Rithm Capital Corp. (NYSE:RITM) has announced its third quarter 2024 common and preferred stock dividends. The Board of Directors declared a common stock dividend of $0.25 per share, payable on November 1, 2024, to shareholders of record on October 1, 2024.
For preferred stocks, the company declared the following dividends:
- Series A: $0.6988563 per share (11.182% rate)
- Series B: $0.6887313 per share (11.020% rate)
- Series C: $0.3984375 per share (6.375% rate)
- Series D: $0.4375000 per share (7.00% rate)
Preferred stock dividends are payable on November 15, 2024, to shareholders of record on October 15, 2024. Series A and B accrue dividends at floating rates based on three-month LIBOR plus spreads of 5.802% and 5.640%, respectively.
Rithm Capital Corp. (NYSE:RITM) has announced its third quarter 2024 common and preferred stock dividends. The company's Board of Directors declared a common stock dividend of $0.25 per share, payable on November 1, 2024, to shareholders of record on October 1, 2024.
For preferred stocks, the following dividends were declared:
- Series A: $0.71438639 per share (11.182% rate)
- Series B: $0.70403639 per share (11.020% rate)
- Series C: $0.3984375 per share (6.375% rate)
- Series D: $0.4375000 per share (7.00% rate)
Preferred stock dividends are payable on November 15, 2024, to shareholders of record on October 15, 2024. The announcement includes corrections to the Series A and Series B dividend amounts from a previous release dated September 20, 2024.
Rithm Capital Corp. (NYSE: RITM) announced its Q2 2024 results, reporting GAAP net income of $213.2 million or $0.43 per diluted share. Earnings available for distribution stood at $231.1 million or $0.47 per diluted share. The company declared a common dividend of $0.25 per share, totaling $122.4 million.
The book value per common share was $12.39.
Highlights include an MSR portfolio with an unpaid principal balance of $645 billion and a pre-tax income of $247.7 million from the Newrez Origination & Servicing segment. The acquisition of Computershare Mortgage Services added $56 billion in MSRs and $98 billion in third-party servicing.
Rithm issued a $500 million rated Residential Transitional Loan securitization and closed two new CLOs totaling $780 million in AUM. The company will host an earnings call on July 31, 2024, at 8:00 AM ET.
Rithm Capital Corp. (NYSE:RITM) has announced the schedule for its second quarter 2024 earnings release and conference call. The company will release its financial results for the period ended June 30, 2024, on Wednesday, July 31, 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 conference call by dialing 1-833-974-2382 (U.S.) or 1-412-317-5787 (outside U.S.), referencing 'Rithm Capital Second Quarter 2024 Earnings Call.' A simultaneous webcast will be available on the company's website. A telephonic replay will be accessible until August 7, 2024, by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (outside U.S.), using access code '6413013'.
Rithm Capital Corp. (NYSE:RITM) announced its Board of Directors has declared dividends for the second quarter of 2024. The common stock dividend is set at $0.25 per share, payable on July 26, 2024, to shareholders of record on July 1, 2024.
Additionally, the company declared dividends for its various series of preferred stocks: $0.4687500 per share for Series A, $0.4453125 per share for Series B, $0.3984375 per share for Series C, and $0.4375000 per share for Series D. These preferred stock dividends are payable on August 15, 2024, to shareholders of record on July 15, 2024.
This announcement highlights Rithm Capital's continued commitment to returning value to its shareholders.
Rithm Capital and Great Ajax have finalized their previously announced transaction. Great Ajax is now under a management agreement with an affiliate of Rithm, transitioning from a residential loan platform to a commercial real estate-focused vehicle. Rithm anticipates strategic benefits from this shift and synergies with its operating platforms. The transaction was first announced on February 26, 2024, and approved by Great Ajax stockholders on May 20, 2024. Rithm also purchased 2.9 million shares of Great Ajax common stock.
Rithm Capital Corp. (NYSE: RITM) completes the acquisition of Computershare Mortgage Services Inc., including SLS, expanding Newrez 's servicing portfolio and subservicing platform. The transaction adds approximately $149 billion in unpaid principal balance of servicing UPB, enhances client base and wallet share, and provides added operating leverage to Newrez's operations.
Rithm Capital Corp. reported strong Q1 2024 results with GAAP net income of $261.6 million, earnings available for distribution of $233.2 million, and a common dividend of $120.9 million. The company's book value per common share stood at $12.19, indicating a robust financial performance. Rithm Capital's various segments, including Newrez Combined Origination & Servicing and Sculptor, contributed positively to the quarter's results. The company expanded its Institutional Credit Strategies and announced the acquisition of Computershare Mortgage Services Inc. and affiliates, reinforcing its market position.
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