RITM Rithm Capital Corporation

$RITM outstanding quarter!!!!! When every other REITard lost money, RITM proves once again they know how to navigate these markets and continue to print money. Well done, RITM!

$RITM God is good folks.....never stop believing in him to carry you thru the most difficult days on earth. The last few months have ben brutal.....I mean really brutal. I am glad shorts made money and that my heart survived them days. We are not out of the woods yet, but at least we see daylight in the tunnel.

$RITM Michael Nierenberg has a long history of winning. That’s all this guy does. There are macro events that he can’t control but he always adjusts and comes out on top.

$RITM GREW book value to 12.51! 55 cents available for distribution! Amazing quarter. Best in the business

$RITM This company is holding nearly half it's market cap in cash. Kind of a no brainer here, to be honest. We have earnings next week and with MSR's they hold, I can only imagine those gained a lot in value. Lot of cash on sidelines......and I hope some of those trillions have flowed into the asset management. And I bet their are a lot of good deals out there for companies with cash and patience. We will all be asking ourselves a year from now how we missed this at this price. Just my honest opinion. Perhaps I am overly optimistic.......

$RITM FYI this is how you run an investor call. Been on 100's over the years. One of the better calls I look forward to being on every Q.

$RITM Short number dropped a couple million on Oct. 15 report. I expect it to continue to drop next release...........but we shall see, they are a stubborn bunch!

$RITM Not to get too chatty but do you see how they refer to their "shareholders" often? Rarely do I hear company talking heads do this.

$RITM Let me chime in on RITM here before my friend, Randy over here jumps off the bridge. First of all the move in rates and bonds makes sense obviously for multiple reasons but mostly inflation and govt debt. However here is how I look at RITM: Y'all know the term TINS? Maybe young kids dont but it talks about a married couples as in Two Income No Sex. Why do I bring this up? Because RITM is just like my other spouse with income with no sex. You see, regardless of how well RITM performed it was never judged by their financial standing, nor the business divercification they were doing, it was a pure dividend/financial play that moves in unison witht he sector. The same thing is happening here also. Rates are moving higher (FED hikes, inflation yada yada yada , I'm not going into the detailed market analysis here ...yet) but the rates are pulling most financial sectors down with it.

$RITM I wanted to sell this when it was lingering around $10 after owning for 6 years. But this is just a buying opportunity. So I bought 8k shares. Worst comes to worst I just sit on it and make 10%

$RITM Blew earnings out of the water, just crushed it. Their hybrid approach is made for turbulent yield times like this. RITM.PRF is very cheap here, I bought into this dip when the parent just blew out earnings. Great guaranteed yield at stripped 9.5% here.

$RITM Monday the short interest for 10/15 will be reported. As of 9/30, short interest had grown to 34mm. I’m going to make a line at 40mm as of 10/15 given the price action from 9/30 to 10/15. I acknowledge that a large portion of the selloff was in tandem with other REITs, but I maintain that there was short pressure. Today could get interesting now that the short thesis is effectively proven wrong.

$RITM They take this stock down when rates go up regardless of the fundamentals Great management and they have diversified into other areas. They are covering the dividend by more then 2 to 1.

$RITM short interest jumped from 28mm on 9/15 to 34+mm on 9/30. Selloff was quite simply a well executed short takedown. No change in thesis here at all. I would expect a flattish book value (with MSR valuations going a tad higher), which still has this trading at under 70% to book value. Coupled with a (exceptionally) well covered dividend that is currently north of 11.5%.

$RITM Earnings available for distribution were 0.55 dollars a share in Q3 vs 0.51 dollars expected (Zacks), on total revenue of 1.76 billion dollars. GAAP EPS was 0.38 dollars, up from 0.04 dollars in Q2, though a chunk of that jump is the MSR fair-value line swinging back. Newrez still did the heavy lifting underneath it: 329.7 million dollars of pre-tax operating income ex the MSR marks, a 24% annualized operating ROE, on a servicing book of 878.9 billion dollars, even with funded production down 21% year over year. Genesis grew the other way, 1.5 billion dollars of transition-loan originations, up 25% year over year. Book value ended the quarter at 12.51 dollars a share against a 0.25 dollar dividend.

$RITM Rithm Q3 earnings available for distribution were 0.55 dollars a share, vs 0.51 dollars expected (Zacks), and that covers the 0.25 dollar dividend more than twice over. Book value was 12.51 dollars a share. GAAP EPS jumped to 0.38 dollars from 0.04 in Q2, though that is mostly the MSR mark swinging back. Servicing revenue net was 716.6 million dollars vs 221.8 million in Q2 after the fair value change went to a positive 121.3 million from a negative 392.9 million. EAD actually slipped from 0.60 dollars in Q2, and origination volume fell 19% sequentially to 12.9 billion dollars. Servicing book is still huge though, 878.9 billion dollars of UPB at quarter end.

$RITM I missed the call. Did they mention anything about returning value to shareholders? Divy raise? I like the share price pop but seen it time over time where it doesn't hold.

$RITM great as always but still don't trust the market to not take them down when more general 'reit' risks come to play.

$RITM JollyRoc brings up a good point. Why haven't I posted for a while. The truth is that while I still see RITM as an attractive core holding position, with the current rate development , FED hikes and US treasury policy It was clear that we're going to go through more pain. It would be futile to keep describing how good the business is if the share price continues to selloff non stop. So why now? First, my level was $8.50 to add and I did, but more importantly I think the things might turn around or at least slow down the reckoning. Obviously all REITs are suffering from the rate hikes and RITM is a REIT so it shall not be spared. Nothing is spared. If your business model depends on the borrowing rate, when the borrowing rate rises your profits fall - common sense right. That said. There is a level where it still makes sense to take that risk because the upside becomes much much larger as well.

$RITM why no discussion regarding DRA advisors taking a 49% position in the office building, 1301 Avenue of the Americas. The CRE daily article says it was valued at $1.3B while RITM bought Paramount at $1.7B. I’d love le to think that RITM recovered almost half its investment on this one transaction, but perhaps there was some debt assumption that changes this?