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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Rithm Capital Corp. (NYSE: RITM) reported a GAAP net loss of ($87.5) million for the fourth quarter of 2023, with a full year GAAP net income of $532.7 million. The company also announced a new stock repurchase program of up to $200 million of common stock and up to $100 million of preferred stock through December 31, 2024. Rithm Capital's acquisition of Sculptor Capital and the agreement with Computershare Limited are key highlights.
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Rithm Capital Corp. (NYSE:RITM) will release its Q4 and full year 2023 financial results on February 7, 2024. A conference call will be hosted by management, and a webcast will be available to the public. Interested parties can access the call and earnings release on the company's website. A telephonic replay will also be available for a limited time.
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Rithm Capital Corp. (NYSE:RITM) announced the tax treatment of its common and preferred stock dividends taxable in 2023. Taxable dividends for common stock were approximately $1.25 per share, while for preferred stock, dividends ranged from $1.78 to $1.87 per share. Stockholders are advised to consult their tax advisors for the proper tax treatment of their shares.
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David Werner Real Estate Investments (DWREI) announced a long-term lease extension with Dow at its life sciences and office campus in Collegeville, Pa. Dow has agreed to an extension of its lease term for approximately 800,000 square feet. The campus includes 14 interconnected office, life science, and mixed-use office buildings across 340 acres. The repositioning of this facility into a world-class center of innovation in life sciences research is expected to tap into the sustained growth of the life sciences industry and the consistent demand for best-in-class research facilities.
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Rithm Capital Corp. (NYSE:RITM) announced the declaration of fourth quarter 2023 common and preferred stock dividends. The common stock dividend of $0.25 per share is payable on January 26, 2024, while the preferred stock dividends for Series A, Series B, Series C, and Series D are payable on February 15, 2024.
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Rithm Capital Corp. (NYSE: RITM) has completed the acquisition of Sculptor Capital Management Inc. for $12.70 per Class A share, totaling approximately $719.8 million. Following the transaction, Sculptor's common stock will be delisted from the New York Stock Exchange. The acquisition aims to create a superior global asset management business focused on delivering long-term value for shareholders and fund investors.
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Rithm Capital and Darwin Homes announce a strategic partnership to establish Adoor Property Management LLC, a new property management platform for Rithm's build-to-rent and single-family rental homes. The partnership will leverage Darwin's technology platform to enhance operational efficiencies and the resident experience. The goal is to grow the portfolio of high-quality homes and meet the demand for accessible and affordable rental housing.
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Sculptor Capital Management Founding Partners announce agreement to support Rithm Capital Corp.'s increased offer to acquire Sculptor for $12.70 per share.
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Rithm Capital Corp. and Sculptor Capital Management Inc. have amended their merger agreement, with Rithm acquiring Sculptor for $12.70 per share, representing a 13.9% increase over the original bid. The transaction has a value of approximately $719.8 million and offers a premium of 49.4% over the unaffected share price. Daniel S. Och and other former EMDs have agreed to vote their shares in favor of the transaction and dismiss their pending litigation. The transaction is expected to close shortly after the Sculptor stockholders' meeting on November 16, 2023.
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Rithm Capital Corp. reports Q3 2023 financial highlights, including GAAP net income of $193.9 million and earnings available for distribution of $280.8 million. The company expects to close the Sculptor transaction and acquire Specialized Loan Servicing for $720 million. Newrez Combined Origination & Servicing segment reports pre-tax income of $412.5 million.
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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