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. reports developments across a real estate and credit platform that operates as a publicly traded REIT and global alternative asset manager. Its updates commonly cover asset-based finance, residential and commercial real estate lending, mortgage servicing rights, structured credit, and operating platforms including Newrez, Genesis Capital, Sculptor Capital Management, Crestline Investors, and Elecor Properties.
Recurring news themes include quarterly results, asset-management activity, debt financing, mortgage-backed securitization activity, Newrez mortgage origination and servicing developments, and market data tied to homeowners, insurance costs, credit scoring, and residential lending. Company announcements also describe capital allocation across investment portfolios, operating businesses, and real estate credit strategies.
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.
New Residential Investment Corp. (NYSE:NRZ) is set to release its second quarter 2022 financial results on August 2, 2022, before NYSE opening. Additionally, the company will officially change its name to Rithm Capital Corp. (NYSE:RITM) and its ticker symbol to 'RITM' on the same day. The conference call for stakeholders will occur at 8:00 A.M. Eastern Time, with a webcast available for public listening. New Residential has paid out approximately $4.1 billion in dividends since its inception in 2013 and maintains a diverse investment portfolio.
New Residential Investment Corp. (NYSE: NRZ) has announced its management internalization and plans to rebrand as Rithm Capital Corp. (NYSE: RITM). The internalization will conclude an external management agreement and is expected to save the company between $60 million and $65 million annually, equating to $0.12 to $0.13 per diluted share. A quarterly dividend of $0.25 per common share was declared, payable on July 29, 2022. Preferred stock dividends were also announced and will be paid on August 15, 2022.