Rithm Capital: High-Yield Bargain Opportunity
RITMRithm Capital (RITM) Seeking Alpha·2024-08-15 07:15
JamesBreyRithm Capital (NYSE:RITM) represents a promising high-yielding investment opportunity in the mortgage REIT business as the company supports its earnings available for distribution and is growing its business in new areas. Considering that the REIT delivered 1.88X distribution coverage in the second-quarter and that Rithm Capital's shares are undeservedly trading at an 11% discount to book value, I believe the risk profile for Rithm Capital is skewed to the upside. I am also upgrading my rating  ...