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) announced its expansion into Europe with a new office in London, led by Marty Migliara, former head of EMEA origination at Bank of America. The company aims to explore equity and debt investments in the real estate and consumer finance sectors, leveraging its ~$32 billion balance sheet. CEO Michael Nierenberg emphasized the growth potential amid current market dislocations, which could yield attractive returns for investors. This move highlights Rithm's strategy to replicate its U.S. success in Europe.
Rithm Capital Corp. (NYSE:RITM) announced its first quarter 2023 dividend declarations. A quarterly common stock dividend of
The preferred stock dividends include:
Rithm Capital Corp. (NYSE: RITM) reported its financial results for Q4 2022 and the full year ending December 31, 2022. The company achieved a GAAP net income of $81.8 million ($0.17 per diluted share) for Q4, with full-year net income reaching $864.8 million ($1.80 per diluted share). Earnings available for distribution amounted to $156.9 million in Q4 and $633.1 million for the year. The firm maintained a common dividend of $0.25 per share for Q4 and $1.00 for the entire year. Rithm's book value per share stood at $12.00. Key developments include a strategic pivot to alternative asset management and growth across various sectors, particularly in private capital.
On February 2, 2023, Senlac Ridge Partners announced its rebranding to GreenBarn Investment Group and the appointment of David Schonbraun as a Managing Partner. This strategic move follows a partnership with Rithm Capital Corp (NYSE: RITM), which acquired a 50% interest in GreenBarn, facilitating the deployment of up to $250 million in capital. The partnership is expected to enhance GreenBarn's buying power to $3 billion for acquiring underperforming assets and loans. Schonbraun's extensive experience in real estate investment is anticipated to drive growth in the firm’s commercial real estate debt and equity business.
Rithm Capital Corp. (NYSE:RITM) has announced the tax treatment for its 2022 dividend distributions for common and preferred stocks. The common stock dividends totaled approximately $0.41464 per share, with a fixed quarterly payment of $0.25000. Preferred stocks produced larger dividends: Series A yielded around $1.87500, Series B $1.78124, Series C $1.59376, and Series D $1.75000 per share. All distributions were made in cash and provided detailed breakdowns of ordinary and qualified dividends, emphasizing the company's ongoing dividend policy.
Rithm Capital Corp. (NYSE:RITM) announced it will release its fourth quarter and full year 2022 financial results on February 8, 2023, before the opening of the New York Stock Exchange. Management will also host a conference call on the same day at 8:00 A.M. ET, where details of the earnings release will be discussed. Interested parties can participate via phone or access a webcast through the company's website. Rithm Capital is focused on real estate and financial services, and since its inception in 2013, it has paid approximately $4.3 billion in dividends to shareholders.
Rithm Capital Corp. (NYSE:RITM) has appointed Kenneth Bruce as Managing Director of Investor Relations. Bruce will lead investor relations efforts, focusing on strategy and financial performance. He brings over 20 years of financial services experience, most recently as a strategic advisor at Red Rock Global Advisors and previously as a Senior Equity Analyst at Bank of America Merrill Lynch. Rithm Capital, which manages assets in real estate and financial services, has returned approximately $4.3 billion in dividends to shareholders since its inception in 2013.
Rithm Capital Corp. (NYSE:RITM) has appointed Peggy Hwan Hebard as an independent Board member, effective January 1, 2023. This strategic addition aims to bolster the Board's expertise in financial services and corporate advisory, enhancing Rithm's growth trajectory. Hebard’s extensive background includes roles at the Children's Museum of Manhattan and The Metropolitan Museum of Art. She brings valuable experience from the finance sector, signaling potential for improved strategic direction and shareholder value.
Rithm Capital Corp. (NYSE:RITM) has announced a quarterly dividend of
Newrez LLC has launched a new joint venture, Carnegie Mortgage Partners, LLC, in collaboration with Keller Williams Bergen County Partners. This venture aims to enhance the residential mortgage lending experience in New Jersey, with a strong focus on customer service. This marks Newrez's 20th joint venture partnership, underlining its commitment to growth and customer satisfaction. The leadership of both companies emphasized their shared values and the potential for significant growth in the mortgage market.
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