Joe Hegener, CIO & Founder, Asterozoa CapitalRithm Capital CorpRITMTOP PICKJun 02, 2026
They are converting from a REIT into a diversified asset management business, like Blackstone. Cheap at 4x PE and pays an 11% dividend with 200% coverage. At 30% discount to book value. When they convert the PE should reach 8-9x. Shares will double in 1-2 years. Great balance sheet.
They do a lot of asset management now, so lots of recurring revenue. They do not only mortgages. Also have a property management business. Trades at a huge discount to book value and pays a 10% dividend.
They are converting from a REIT into a diversified asset management business, like Blackstone. Cheap at 4x PE and pays an 11% dividend with 200% coverage. At 30% discount to book value. When they convert the PE should reach 8-9x. Shares will double in 1-2 years. Great balance sheet.
(Analysts’ price target is $13.44)