Rithm Capital Stock Price, News & Analysis

Rithm Capital (NYSE:RITM) announced it will release its Q1 2023 financial results on May 4, 2023, before NYSE market opening. A conference call is scheduled for the same day at 8:00 A.M. ET, inviting all interested parties to participate. The call can be accessed via U.S. and international numbers or through pre-registration. A simultaneous webcast will also be available. Rithm Capital, focused on the real estate and financial services sectors, has delivered approximately $4.4 billion in dividends to shareholders since its inception in 2013. The company is structured to qualify as a real estate investment trust (REIT) and is headquartered in New York City.

GreenBarn Investment Group and Skyview Companies have launched the first phase of a 20-acre development project in Kissimmee, Florida, emphasizing the acquisition of an eight-acre land parcel. The project, named "The Allen," is co-developed by both companies and supported by a $52.7 million construction loan from Sumitomo Mitsui Trust Bank. It will feature 312 apartment units in downtown Kissimmee, near key medical facilities and retail areas. The partnership also plans additional developments, potentially including 300 more multi-family units and a medical office building, covering up to one million square feet across three phases. As an affiliate of Rithm Capital Corp (RITM), GreenBarn aims to enhance the community's housing options and economic vibrancy.

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 $0.25 per share will be payable on April 28, 2023, to shareholders of record on March 31, 2023.

The preferred stock dividends include: $0.4687500 for Series A, $0.4453125 for Series B, $0.3984375 for Series C, and $0.4375000 for Series D, all payable on May 15, 2023. Rithm has delivered approximately $4.4 billion in dividends to shareholders since 2013.

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.