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 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.
Rithm Capital Corp. (NYSE: RITM) reported strong financial results for Q3 2022, with a GAAP net income of $124.5 million ($0.26 per diluted share). Earnings available for distribution were $153.0 million ($0.32 per share). The company declared a common dividend of $118.4 million ($0.25 per share). Despite market challenges, book value remained stable at $12.10. Notably, Rithm announced a strategic acquisition of a 50% interest in Senlac Ridge Partners to enhance its commercial real estate investment portfolio.
Rithm Capital Corp. (NYSE:RITM) announced it will release its third quarter 2022 financial results on November 2, 2022, before market open. A conference call will follow at 8:00 A.M. Eastern Time on the same day. Interested parties can join the live call by dialing specified numbers. The earnings release can be accessed on Rithm's website. Established in 2013, Rithm Capital focuses on generating risk-adjusted returns through a diverse investment portfolio in real estate and financial services, having returned approximately $4.2 billion in dividends to shareholders.
Rithm Capital Corp. (NYSE:RITM) has declared its third quarter 2022 dividends for both common and preferred stock. The quarterly dividend for common stock is set at $0.25 per share, payable on October 28, 2022, to shareholders of record by October 4, 2022. Preferred dividends include $0.46875 for Series A, $0.4453125 for Series B, $0.3984375 for Series C, and $0.4375 for Series D, all payable on November 15, 2022, to shareholders of record on October 17, 2022.
Newrez LLC has launched a new 40-year fixed-rate interest-only (IO) option in its Smart Series non-qualified mortgage (Non-QM) product line. This product is aimed at increasing purchasing power for homebuyers by offering lower monthly payments through a 40-year term with interest-only payments for the first ten years. Available across all lending channels, this initiative reflects Newrez's commitment to cater to non-traditional borrowers and enhance affordability in the housing market, helping prospective homeowners access more competitive financing options.
Rithm Capital Corp. (NYSE: RITM) celebrated its rebrand and ticker symbol change by ringing the opening bell at the New York Stock Exchange on August 10, 2022. CEO Michael Nierenberg highlighted the company's shift beyond traditional mortgage REIT operations while emphasizing their diverse asset portfolio, which includes entities like Newrez and Genesis Capital. Since its inception in 2013, Rithm Capital has distributed approximately $4.1 billion in dividends to shareholders, showcasing its commitment to generating attractive risk-adjusted returns.
Rithm Capital Corp. reported a GAAP net loss of $(3.3) million for Q2 2022, translating to $(0.01) per share, primarily due to a termination fee of approximately $325 million. However, earnings available for distribution rose to $145.8 million or $0.31 per share. The company maintained its common dividend at $116.7 million, equating to $0.25 per share. Despite a decline in combined segment pre-tax income to $620.1 million from $908.0 million in Q1 2022, the company noted a positive outlook with $1.8 billion in cash and liquidity for future investments.
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