Rithm Capital Corp. Files Q3 2024 10-Q
Ticker: RITM-PD · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1556593
| Field | Detail |
|---|---|
| Company | Rithm Capital Corp. (RITM-PD) |
| Form Type | 10-Q |
| Filed Date | Nov 5, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real-estate, REIT
Related Tickers: RITM
TL;DR
Rithm Capital (RITM) Q3 2024 10-Q is in. Check financials.
AI Summary
Rithm Capital Corp. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as New Residential Investment Corp., reported financial results for the third quarter of 2024. Key financial data and disclosures related to its real estate investment trust operations are detailed in the filing.
Why It Matters
This filing provides investors with a detailed look at Rithm Capital's financial performance and position as of the end of the third quarter of 2024, crucial for understanding its ongoing operations and investment strategies.
Risk Assessment
Risk Level: medium — As a real estate investment trust, Rithm Capital is subject to market fluctuations and interest rate risks inherent in the real estate sector.
Key Players & Entities
- Rithm Capital Corp. (company) — Filer of the 10-Q
- New Residential Investment Corp. (company) — Former name of Rithm Capital Corp.
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date
FAQ
What was Rithm Capital Corp.'s revenue from contracts with customers for the period ending September 30, 2024?
The filing references the US GAAP taxonomy for 'RevenueFromContractWithCustomerExcludingAssessedTax', indicating this is a key metric, but the specific dollar amount is not provided in the header information.
What were the company's total assets as of September 30, 2024?
The filing references US GAAP for 'PrepaidExpenseAndOtherAssets' and 'AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent', suggesting these are components of the balance sheet, but specific total asset figures are not in the header.
What was the nature of the 'GainLossOnInvestments' reported in the filing?
The filing includes a reference to 'GainLossOnInvestments' within the US GAAP taxonomy, indicating it's a reported item, but details on the specific gains or losses are not in the provided header.
When did Rithm Capital Corp. change its name from New Residential Investment Corp.?
The company changed its name from New Residential Investment Corp. on December 27, 2012.
What is Rithm Capital Corp.'s Standard Industrial Classification (SIC) code?
Rithm Capital Corp.'s SIC code is 6798, which corresponds to Real Estate Investment Trusts.
Filing Stats: 4,501 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-04 19:47:46
Key Financial Figures
- $0.01 — nge on which registered: Common Stock, $0.01 par value per share RITM New York Stock
Filing Documents
- ritm-20240930.htm (10-Q) — 6146KB
- ritm-2024930xexhibit311.htm (EX-31.1) — 16KB
- ritm-2024930xexhibit312.htm (EX-31.2) — 16KB
- ritm-2024930xexhibit321.htm (EX-32.1) — 6KB
- ritm-2024930xexhibit322.htm (EX-32.2) — 5KB
- 0001556593-24-000041.txt ( ) — 32768KB
- ritm-20240930.xsd (EX-101.SCH) — 229KB
- ritm-20240930_cal.xml (EX-101.CAL) — 211KB
- ritm-20240930_def.xml (EX-101.DEF) — 1258KB
- ritm-20240930_lab.xml (EX-101.LAB) — 1670KB
- ritm-20240930_pre.xml (EX-101.PRE) — 1494KB
- ritm-20240930_htm.xml (XML) — 7363KB
Financial Information
Part I. Financial Information
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 1 Consolidated Balance Sheets 1 Consolidated Statements of Operations 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Stockholders' Equity 4 Consolidated Statements of Cash Flows 6
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 74
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 106
Controls and Procedures
Item 4. Controls and Procedures 109
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 111
Risk Factors
Item 1A. Risk Factors 111
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 111
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 111
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 111
Other Information
Item 5. Other Information 111
Exhibits
Item 6. Exhibits 112
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS RITHM CAPITAL CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollars in thousands, except share data) September 30, 2024 (Unaudited) December 31, 2023 Assets Mortgage servicing rights and mortgage servicing rights financing receivables, at fair value $ 9,300,989 $ 8,405,938 Government and government-backed securities (includes $ 10,110,166 and $ 8,533,130 at fair value, respectively) 10,134,897 8,557,683 Residential mortgage loans, held-for-investment, at fair value 378,032 379,044 Residential mortgage loans, held-for-sale (includes $ 3,115,934 and $ 2,461,865 at fair value, respectively) (A) 3,185,873 2,540,742 Consumer loans, held-for-investment, at fair value (A) 805,577 1,274,005 Single-family rental properties 1,040,645 1,001,928 Mortgage loans receivable, at fair value 1,869,852 1,879,319 Residential mortgage loans subject to repurchase 2,409,992 1,782,998 Cash and cash equivalents (A) 1,639,539 1,287,199 Restricted cash (A) 306,533 378,048 Servicer advances receivable 2,726,103 2,760,250 Reverse repurchase agreement — 1,769,601 Other assets (includes $ 2,326,514 and $ 2,005,782 at fair value, respectively) (A) 4,162,513 3,948,852 Assets of Consolidated CFEs (A) : Investments, at fair value and other assets 4,315,417 3,751,477 Total Assets $ 42,275,962 $ 39,717,084 Liabilities and Equity Liabilities Secured financing agreements (A) $ 15,357,630 $ 12,561,283 Secured notes and bonds payable (includes $ 197,234 and $ 235,770 at fair value, respectively) (A) 9,410,773 10,360,188 Residential mortgage loan repurchase liability 2,409,992 1,782,998 Unsecured notes, net of issuance costs 1,200,791 719,004 Treasury securities payable — 1,827,281 Dividends payable 150,393 135,897 Accrued expenses and other liabilities (includes $ 560,312 and $ 51,765 at fair value, respectively) (A) 2,357,516 2,065,761 Liabilities of Consolidated CFEs (A) : Notes payable, at fair value and other liabilities