Rithm Capital Corp. ( (RITM) ) has realeased its Q3 earnings. Here is a breakdown of the information Rithm Capital Corp. presented to its investors.
Rithm Capital Corp. is a global asset manager engaged in real estate, credit, and financial services, known for its diverse investment strategies and operations, including mortgage origination and servicing platforms, headquartered in New York City. In its third quarter of 2024, Rithm Capital Corp. reported a GAAP net income of $97 million, equating to $0.20 per diluted common share, and earnings available for distribution of $270.3 million or $0.54 per diluted share. The company maintained a stable common dividend of $0.25 per share, while its book value per common share stood at $12.31. Key financial highlights include the sale of 30 million shares of common stock raising $340 million, and an impressive servicing portfolio of $878 billion in unpaid principal balance. Additionally, its subsidiary Newrez achieved a pre-tax income of $245.9 million excluding mark-to-market adjustments, with a notable 24% pre-tax return on equity. Genesis also performed well with a pre-tax income of $35.1 million, generating an 18% pre-tax return on equity. As Rithm Capital looks forward, its management remains focused on leveraging its balanced business model to sustain growth and shareholder value through strategic investments and operational resilience across its core business segments.
