Highland Capital Management LLC, an experienced worldwide investment management business known for its ability to find investment opportunities in a variety of industries, announced the purchase of a new interest in Rithm Capital Corp. during the fourth quarter of 2023. Highland Capital Management purchased 19,253 shares of the real estate investment trust’s stock for $157,000, according to their most recent filing with the Securities and Exchange Commission (SEC).
Rithm Capital Corp. is one of the greatest real estate investment trusts, aiming to create long-term value for investors by investing in mortgage-related assets that provide excellent risk-adjusted returns.
Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate are the business segments of the organization.
On Friday, May 6, 2023, NYSE RITM opened at $7.64. Rithm Capital Corp.’s market capitalization is $3.69 billion, with a P/E ratio of 4.27 and a beta of 1.79, with a year low of $6.86 and a year high of $11.60.
The fact that Highland Capital Management LLC chose to invest in Rithm Capital Corp. despite the recent economic downturn caused by the COVID-19 outbreak says volumes about their belief in the company’s future growth potential.
Despite existing financial pressures seen in various industries as a result of the COVID-19 pandemic, such as mass unemployment leading to non-payment or delay issues, companies like Rithm Capital Corp – which primarily focuses on residential properties – can meet this challenge head-on while providing potential opportunities for significant yield within this space through focused investments.
