Rithm Capital: The Upcoming Rate Resets Of A 10% Yielder

Rithm is presented as an attractive income opportunity, offering a 10% common dividend yield and trading at 0.76x book value. Sticky mortgage-servicing income and expanding asset-management fees support the bullish case, while cumulative preferred shares yield as much as 9.8%. Investors should monitor hedging losses and narrowing dividend coverage, which represent key risks to the income thesis.