Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 2

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 2
---
7,886,310 $7,751,409 $7,420,614 Less: Preferred Stock Series A, B, C and D1,207,254 1,207,254 1,257,254 1,257,254 1,257,254 Less: Noncontrolling interests of consolidated subsidiaries110,826 108,716 91,336 94,867 94,021 Total equity attributable to common stock$6,741,129 $6,568,870 $6,537,720 $6,399,288 $6,069,339 Common stock outstanding530,292,171530,122,477520,656,256519,732,422489,732,422Book Value per Common Share$12.71 $12.39 $12.56 $12.31 $12.39 

(A)The change in book value per common share from December 31, 2024 to March 31, 2025 was attributable to the net impact of (i) net income attributable to common stockholders of $36.5 million and (ii) a dividend of $132.5 million for the three months ended March 31, 2025. Net income attributable to common stockholders for the three months ended March 31, 2025 was adversely impacted by a non-cash decrease in the fair value of MSRs, net of hedge and tax.

Refer to Item 3. “Quantitative and Qualitative Disclosures About Market Risk” for a discussion of interest rate risk and its impact on fair value.

MARKET CONSIDERATIONS

Summary

Real gross domestic product (“GDP”) rose an annualized 3.0% in the second quarter of 2025 largely due to a decline in imports that added 5.2% points to the change in real GDP. This drop in imports followed an increase in the first quarter of 2025 that was the result of the front running of tariffs. Longer-term Treasury yields were relatively unchanged during the second quarter of 2025, as an increase in real yields from Treasury Inflation Protected Securities (“TIPS”) was offset by a decline in the implied inflation breakeven. The unemployment rate fell slightly with overall labor market stability during the second quarter of 2025, including solid employment growth, continued low levels of claims for unemployment benefits and a modestly higher ratio of job openings to unemployed job seekers.