From Seekingalpha · Pacifica Yield · · 40s
Rithm Capital Trades at 75 Cents on Dollar
Rithm Capital (RITM) trades at a 25% discount to book value with a fully covered dividend yield.
In brief
Rithm Capital (RITM) trades at a 25% discount to book value with a fully covered dividend yield. Rithm Capital is a Buy at 75 cents on the dollar with a 25% discount to book value and 10.65% dividend yield. Originally reported by Seekingalpha.
Rithm Capital Discount
Rithm Capital trades at a 25% discount to book value despite strong fundamentals and a fully covered 10.65% dividend yield.
Q3 Earnings Beat
Rithm Capital's third-quarter earnings beat expectations with EAD covering the dividend by 220% and net income rising to $0.38 per share.
Management Strategy
Management prioritizes portfolio expansion over dividend hikes or buybacks using excess EAD for growth amid a challenging macro backdrop.
What matters most
Rithm Capital is a Buy at 75 cents on the dollar with a 25% discount to book value and 10.65% dividend yield.
