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This High-Yield Dividend Stock Has a New Name -- Here's What You Need to Know

·3 min read
This High-Yield Dividend Stock Has a New Name -- Here's What You Need to Know

Since mortgage origination is so cyclical, the stocks of these companies generally trade with mid-single-digit multiples during good times. During the famine part of the cycle, mortgage originators take the opportunity to cut costs and often build ancillary businesses. New Residential has done just that -- rebranding itself as Rithm Capital (NYSE: RITM) to emphasize its non-origination businesses.