Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 315

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 315
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 A, B, C and D1,207,254 1,257,254 1,257,254 1,257,254 1,257,254 Less: Noncontrolling interests of consolidated subsidiaries108,716 91,336 94,867 94,021 93,820 Total equity attributable to common stock$6,568,870 $6,537,720 $6,399,288 $6,069,339 $5,892,298 Common stock outstanding530,122,477520,656,256519,732,422489,732,422483,477,713Book Value per Common Share$12.39 $12.56 $12.31 $12.39 $12.19 

(A)The change in book value per common share from December 31, 2024 to March 31, 2025 is 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

The U.S. economy contracted during the first quarter of 2025 as real gross domestic product (“GDP”) fell an annualized 0.3% due to a surge in imports at the start of the year ahead of the imposition of tariffs. Longer-term Treasury yields fell during the first quarter, primarily due to lower real yields from Treasury Inflation Protected Securities (“TIPS”). The unemployment rate increased slightly to 4.2% in March 2025 from 4.1% in December 2024. In addition to the low unemployment rate, other signs of labor market stability during the first quarter included solid payroll growth, continued low levels of claims for unemployment benefits and an only modestly lower ratio of job openings to unemployed job seekers. The outlook for the economy is more uncertain than usual given changes in policies related to global trade.   

Inflation

Progress towards lower inflation resumed in the first quarter of 2025. The