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.
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Sculptor Capital Management, Inc. launches Sculptor Loan Financing Partners, a captive CLO equity platform with an anchor commitment from Rithm Capital Corp. The firm closes a $406 million US CLO, Sculptor CLO XXXII, with Rithm holding a controlling equity stake. The new platform expands Sculptor's Institutional Credit Strategies business, managing investments in the equity tranches of Sculptor managed CLOs in the US and Europe.
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Great Ajax Corp. (AJX) sets a record date for its 2024 stockholders' meeting to vote on strategic transaction with Rithm Capital Corp. The Meeting will address various key actions including stock issuance, director elections, and management agreements.
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Genesis Capital completes a $500 million rated securitization backed by residential transition loans, receiving support from 46 investors. The deal includes three classes of offered bonds and marks the largest-ever rated residential transition loan securitization. Goldman Sachs led the offering, enabling institutional investors to enter the RTL market.
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Rithm Capital Corp. (NYSE:RITM) declares first quarter 2024 dividends for common and preferred stocks. Common stock dividend set at $0.25 per share, payable on April 26, 2024. Preferred stock dividends for Series A, B, C, and D also announced.
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Rithm Capital Corp. (NYSE: RITM) announced the results of its cash tender offer to purchase up to $275 million of its 6.250% Senior Unsecured Notes due 2025. Over $483 million of notes were tendered, exceeding the cap, resulting in a prorated acceptance. The settlement date is expected on March 19, 2024, with a total consideration of $1,000 per $1,000 principal amount of notes accepted for purchase.
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Rithm Capital Corp. (NYSE: RITM) announces the pricing of $775 million senior unsecured notes due 2029 to reduce indebtedness and for general corporate purposes. The offering will close on March 19, 2024, targeting qualified institutional buyers in the U.S. and international buyers under Regulation S.
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Rithm Capital Corp. (RITM) plans to offer $775 million in senior unsecured notes due 2029 to reduce indebtedness and for general corporate purposes. The notes are not registered under the U.S. Securities Act and will be offered to qualified institutional buyers in the U.S. and under Regulation S outside the U.S.
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Rithm Capital Corp. (NYSE: RITM) has initiated a cash tender offer for up to $275 million of its $550 million outstanding 6.250% Senior Unsecured Notes due 2025. The Tender Offer expires on April 1, 2024, with the option to amend or terminate. Holders who participate may receive a total consideration of $970.00 per $1,000 principal amount of notes, including an early tender payment of $30.00. The Offer also includes accrued and unpaid interest. Rithm reserves the right to accept early tenders before the Expiration Time. The company's obligation is subject to certain conditions, including completing a debt financing.
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Rithm Capital Corp. and Great Ajax Corp. have entered into a strategic transaction where Great Ajax will receive a $70 million term loan from Rithm to repay its outstanding convertible notes. Great Ajax plans to shift its strategic direction by working with Rithm to capitalize on commercial real estate investment opportunities.
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KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from NRMLT 2024-NQM1 sponsored by Rithm Capital Corp. The non-prime RMBS transaction is worth $281.9 million, collateralized by 610 residential mortgages with borrowers possessing a non-zero WA original credit score of 739. The loans are seasoned approximately five months, with 98.9% fixed-rate mortgages and 1.1% adjustable-rate mortgages. NRMLT 2024-NQM1 has a WA original loan-to-value (LTV) of 73.6% and 8.4% of the pool has an initial interest-only period.
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FAQ
What is the current stock price of Rithm Capital (RITM)?
The current stock price of Rithm Capital (RITM) is $10.94 as of December 20, 2024.
What is the market cap of Rithm Capital (RITM)?
The market cap of Rithm Capital (RITM) is approximately 5.5B.
What does Rithm Capital Corp. do?
Rithm Capital Corp. is a real estate investment trust that focuses on investing in and managing residential real estate assets, including mortgage servicing rights, residential mortgage-backed securities, and residential mortgage loans.
What is the primary goal of Rithm Capital Corp.?
The primary goal of Rithm Capital Corp. is to generate attractive risk-adjusted returns in all interest-rate environments through a diverse portfolio of real estate investments and operating businesses.
What are Excess Mortgage Servicing Rights (Excess MSRs)?
Excess Mortgage Servicing Rights (Excess MSRs) are the rights to receive a portion of the interest payments from mortgages, allowing Rithm Capital to benefit from loan servicing without owning the actual loans.
What are Residential Mortgage-Backed Securities (RMBS)?
Residential Mortgage-Backed Securities (RMBS) are investment products secured by residential mortgages, which provide steady cash flows from homeowners' mortgage payments.
How does Rithm Capital Corp. support the residential mortgage market?
Rithm Capital Corp. supports the residential mortgage market by investing in mortgage servicing rights, residential mortgage-backed securities, and residential mortgage loans, contributing to both homeownership and rental markets.
What recent strategic partnerships has Rithm Capital Corp. engaged in?
Recent strategic partnerships include collaborations with Great Ajax Corp. and Sculptor Capital Management, Inc., which have strengthened Rithm Capital's market position and expanded its portfolio.
How does Rithm Capital Corp. ensure risk-adjusted returns?
Rithm Capital Corp. ensures risk-adjusted returns by maintaining a balanced and diversified investment portfolio that includes mortgage servicing-related assets, residential securities, residential mortgage loans, and consumer loans.
What is the significance of the U.S. financial crisis on Rithm Capital's strategy?
The U.S. financial crisis led to major structural changes in the mortgage industry, creating new investment opportunities. Rithm Capital leverages these changes to develop a compelling investment strategy in the residential mortgage market.
What are Rithm Capital Corp.'s other opportunistic investments?
In addition to mortgage-related assets, Rithm Capital Corp. seeks diverse investment opportunities that arise from the evolving housing and mortgage industries.
What is the size of the U.S. residential housing market?
The U.S. residential housing market is estimated to be around $19 trillion, offering significant investment opportunities for firms like Rithm Capital Corp.
Rithm Capital Corp.
NYSE:RITM
RITM Rankings
RITM Stock Data
5.55B
517.58M
0.41%
51.9%
1.18%
REIT - Mortgage
Real Estate Investment Trusts
United States of America
New York