Rithm Capital Corp. ( (RITM) ) has released its Q4 earnings. Here is a breakdown of the information Rithm Capital Corp. presented to its investors.
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Rithm Capital Corp. is a global asset manager specializing in real estate, credit, and financial services, with operations that include mortgage origination and servicing through Newrez LLC and Genesis Capital LLC, as well as alternative asset management via Sculptor Capital Management, Inc.
In its latest earnings report, Rithm Capital announced a strong financial performance for both the fourth quarter and the full year 2024. The company reported a GAAP net income of $263.2 million and $835.0 million for the quarter and full year, respectively. Earnings available for distribution were $315.8 million for the quarter and $1.1 billion for the year.
Key financial highlights include a common dividend of $130.2 million for the quarter and $503.4 million for the year, as well as a book value per common share of $12.56. Rithm Capital also completed a significant $461 million secured financing backed by mortgage servicing rights, marking a notable achievement in non-recourse term financing.
Additionally, the company has seen substantial growth in its operations, with the Origination & Servicing segment achieving a 20% pre-tax return on equity and a 32% year-over-year increase in total servicing unpaid principal balance. The asset management segment, Sculptor, closed an additional $1 billion for its Real Estate Fund V, further expanding its asset management capabilities.
Looking ahead, Rithm Capital’s management remains optimistic about future growth opportunities, particularly in expanding its asset management business through strategic partnerships, and continues to focus on delivering value to its investors and shareholders.
