Rithm Capital Stock Price, News & Analysis

Rithm Capital Corp (NYSE: RITM) is sponsoring a $325.7 million non-prime RMBS transaction through New Residential Mortgage Loan Trust 2025-NQM2 (NRMLT 2025-NQM2). The trust consists of 631 residential mortgages originated primarily by Champions Funding, (43.5%) and NewRez (41.5%), with servicing handled by Shellpoint Mortgage Servicing.

The mortgage pool characteristics include:

• Borrowers' weighted average original credit score: 749
• Weighted average original loan-to-value (LTV): 71.1%
• One-month seasoned loans
• 99.6% fixed-rate mortgages (FRMs)
• 0.4% adjustable-rate mortgages (ARMs)
• 5.3% of loans have initial interest-only period

KBRA has assigned preliminary ratings to 8 classes of mortgage-backed notes, utilizing their Residential Asset Loss Model (REALM), third-party loan file due diligence, and cash flow modeling analysis.

Rithm Capital (NYSE: RITM) has successfully closed NZES 2025-FHT1, an $878 million mortgage servicing rights (MSR) backed securitized note, marking the largest MSR debt issuance ever completed. This single-tranche transaction represents the market's second-ever non-recourse MSR securitization, providing fixed financing over a 3-year expected asset life term.

The deal follows Rithm's previous milestone of closing NZES 2024-FNT1, the first non-recourse, non-rated MSR transaction in November 2024. Since 2015, the company has completed 17 MSR deals totaling over $7.7 billion in balance, demonstrating its significant presence in the MSR sector.

Rithm Capital (NYSE:RITM) has announced its dividend distributions for the first quarter of 2025. The company declared a common stock dividend of $0.25 per share, payable on April 30, 2025, to shareholders of record on March 31, 2025.

The company also declared preferred stock dividends for its various series:

• Series A: $0.6419490 per share (10.387% rate)
• Series B: $0.6319365 per share (10.225% rate)
• Series C: $0.5904649 per share (9.554% rate)
• Series D: $0.4375000 per share (7.000% fixed-rate)

All preferred stock dividends will be paid on May 15, 2025, to shareholders of record on May 1, 2025.

Rithm Property Trust (NYSE: RPT) has announced the sale of an additional 84,232 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock through a partial exercise of the over-allotment option. This sale generated additional gross proceeds of $2,105,800 before deducting underwriting discounts and offering expenses.

The Series C Preferred Stock began trading on the NYSE under the symbol RPT.PRC on March 12, 2025. The company plans to use the net proceeds for investments and general corporate and working capital purposes. The offering was managed by Janney Montgomery Scott , BTIG, , and Piper Sandler & Co. as book-running managers, with Lucid Capital Markets, , JonesTrading Institutional Services , and Wedbush Securities Inc. serving as co-managers.

Rithm Property Trust (NYSE: RPT) has announced that its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock has received approval for listing on the New York Stock Exchange under the symbol 'RPT PRC'. Trading is expected to begin on March 12, 2025.

Rithm Property Trust, formerly known as Great Ajax Corp., is a real estate investment platform externally managed by a Rithm Capital Corp. (NYSE: RITM) affiliate. The company is transitioning from its historical focus on re-performing and non-performing loans secured by single-family residences and commercial properties to a flexible commercial real estate focused investment strategy.

Rithm Property Trust (NYSE: RPT) has announced the pricing of a public offering of 2,000,000 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock at $25.00 per share, generating gross proceeds of $50 million. The company has granted underwriters a 30-day option to purchase up to 300,000 additional shares for over-allotments.

The offering is expected to close on March 4, 2025, with proceeds intended for investments and general corporate purposes. RPT plans to list the Series C Preferred Stock on the NYSE under the symbol 'RPTP'. The offering is being managed by Janney Montgomery Scott, BTIG, and Piper Sandler as book-running managers, with Lucid Capital Markets, JonesTrading, and Wedbush Securities as co-managers.

Rithm Acquisition Corp has announced the pricing of its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, totaling $200 million. The units will trade on the New York Stock Exchange under the symbol 'RAC.U' starting February 27, 2025.

Each unit comprises one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant allows holders to purchase one Class A ordinary share at $11.50 per share. Once separate trading begins, the shares and warrants will trade under 'RAC' and 'RAC.WS' respectively.

The offering, expected to close on February 28, 2025, is managed by Citigroup Global Markets, BTIG, and UBS Investment Bank. Underwriters have a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments.

Rithm Capital (NYSE: RITM) has announced a partial redemption of its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The company will redeem $50 million worth of shares, equivalent to 2 million shares out of the outstanding 6.21 million Series A shares.

The redemption will occur on March 28, 2025, with shareholders receiving $25.00 per share in cash, plus $0.274091 per share in accumulated and unpaid distributions. The Series A shares currently trade under the ticker symbol 'RITM PR A'. A Notice of Partial Redemption was distributed to shareholders on February 26, 2025.

Rithm Property Trust Inc. (NYSE: RPT) has announced the commencement of a public offering of its Series C Fixed-to-Floating Cumulative Redeemable Preferred Stock with a $25.00 per share liquidation preference. The company plans to grant underwriters a 30-day option to purchase additional shares to cover over-allotments.

RPT intends to use the net proceeds from the offering for investments and general corporate and working capital purposes. Following the offering, the company plans to apply for listing the Series C Preferred Stock on the New York Stock Exchange.

The offering's book-running managers are Janney Montgomery Scott , BTIG, and Piper Sandler & Co., with Lucid Capital Markets, , JonesTrading Institutional Services and Wedbush Securities Inc. acting as co-managers. The offering is being made through the company's effective shelf registration statement filed with the SEC.

Formerly known as Great Ajax Corp., Rithm Property Trust is a real estate investment platform externally managed by an affiliate of Rithm Capital Corp. (NYSE: RITM) and is organized as a REIT.