Rithm Capital Stock Price, News & Analysis

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 $0.25 per share for common stock, payable on January 27, 2023. Preferred stock dividends were also declared for Series A, B, C, and D, with amounts ranging from $0.3984375 to $0.4687500, payable on February 15, 2023. Additionally, the Board authorized new stock repurchase programs totaling $300 million for both common and preferred shares, effective through December 31, 2023.

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.