guymandude Posted - 10/24/24

$RITM Anyone have any insight to what’s going to happen when they rebrand $AJX into the Rithm network? Ticker will change but what about share price?

CHCInvestments Posted - 1 month ago

$RITM I didn't get many clues out of the $AJX conference call questions.....but I think them changing AJX name to RPT, Rithm Property Trust, is kind of telling. Sounds like they are planning on AJX/RPT being profitable again by 1Q2025. I still think RITM plans to own AJX/RPT......that will eventually be our spin-off for REIT business. Michael just wants it profitable and that $100M in debt at 10%+ cost to be gone and AJX/RPT to be profitable before we marry it. Kind of like dating a woman with $200,000 in credit card debt, you don't mind sleeping with her, but before you marry her.......she has to clean up her balance sheet. I am not sure I fully understand yet, seems RITM would be better off to buy it while it is beaten down, for a better price, but apparently....Michael thinks it is better to be patient and let it grow a couple of quarters before we jump in. Anyone have any thoughts on this stuff??

CHCInvestments Posted - 1 month ago

$RITM $AJX Earnings this morning they are changing name and ticker of AJX to Rithm Property Trust, new ticker RPT. The writing is on the wall.

DonCorleone77 Posted - 1 month ago

$AJX Great Ajax reports Q3 adjusted EPS (12c) vs. (24c) in Q2 Reports book value per common share of $5.47 at September 30, 2024. "When we completed the strategic transaction with Great Ajax, we were clear about our mission: to transform the company from a legacy residential mortgage vehicle into an opportunistic real estate platform," said Michael Nierenberg, Chief Executive Officer of Rithm Capital Corp. "During the third quarter, we made significant progress towards doing so by selling down $148 million UPB of legacy assets and growing our commercial real estate debt portfolio to over $100 million UPB. We are excited about the future of the company and are committed to providing shareholders with growth and value creation."

Supervision Posted - 1 month ago

$MULN 👎🏼 another 1:1000 reverse split coming. Go long with these gems $CMCT $EB $AJX 👍

Supervision Posted - 1 month ago

$MULN After all the reverse splits, if you originally owned 100,000,000 shares of Mullen Automotive (MULN) on May 24, 2016, you would end up with approximately 0.4444 shares by September 17, 2024. May 25, 2016: 1-for-10 split → 100,000,000 ÷ 10 = 10,000,000 shares October 5, 2017: 1-for-10 split → 10,000,000 ÷ 10 = 1,000,000 shares May 4, 2023: 1-for-25 split → 1,000,000 ÷ 25 = 40,000 shares August 11, 2023: 1-for-9 split → 40,000 ÷ 9 ≈ 4,444.44 shares December 21, 2023: 1-for-100 split → 4,444.44 ÷ 100 ≈ 44.44 shares September 17, 2024: 1-for-100 split → 44.44 ÷ 100 ≈ 0.4444 shares By the end, you hold less than one full share. $EVNTB & $AJX 👍

Supervision Posted - 1 month ago

$MULN After all the reverse splits, if you originally owned 100,000,000 shares of Mullen Automotive (MULN) on May 24, 2016, you would end up with approximately 0.4444 shares by September 17, 2024. May 25, 2016: 1-for-10 split → 100,000,000 ÷ 10 = 10,000,000 shares October 5, 2017: 1-for-10 split → 10,000,000 ÷ 10 = 1,000,000 shares May 4, 2023: 1-for-25 split → 1,000,000 ÷ 25 = 40,000 shares August 11, 2023: 1-for-9 split → 40,000 ÷ 9 ≈ 4,444.44 shares December 21, 2023: 1-for-100 split → 4,444.44 ÷ 100 ≈ 44.44 shares September 17, 2024: 1-for-100 split → 44.44 ÷ 100 ≈ 0.4444 shares By the end, you hold less than one full share. If you buy 1000 shares, next month it will become 1 share Go long with $AJX & $EB

CHCInvestments Posted - 09/27/24

$RITM I personally see an easy path to $15+, including all SOTP, in next 3 quarters. If I may, let me explain my logic, then you all can critique my thinking. Much of what I am saying is hypothetical and my own rendition. First part of plan is done in motion. This offering could be used to purchase $AJX. We purchase AJX outright and current RITM shareholders get, for example, 1 share of AJX for every share of RITM we own. So if you have 1000 RITM you would then own 1000 AJX as well. You then spin off NewRez Origination and Servicing into AJX, thus separating the REIT from the Asset Manager. Looking at last quarter, we had $2.8B book value on NewRez and that will grow quickly. So AJX would be their existing book value + NewRez book value, so $8-9 book value on AJX alone, and it would pay dividend. So AJX could easily be $7-8 stock. Then RITM would have investment portfolio, $2.2B, Genesis $1B, Sculptor $3/4 B...so RITM would be worth nearly $4B without NewRez/AJX.

CHCInvestments Posted - 09/26/24

$AJX You guys better keep your eye on this one......I think we can easily see a buyout coming on it!

CHCInvestments Posted - 09/26/24

$RITM OK, I hope we can start regaining our traction today. Offering will close......and maybe soon we can find out where this money is going. I still think they will use it to either call the Preferred A & B shares, or they will use it to buy $AJX or something. Be nice if we buy something and get a pre-release of earnings like we did when they announced an acquisition last year. I think this will be a free dividend play. Buy it now, let it get back to $11.50 or so by ex date and you will have the shares, the dividend and stock price will no worse than where it is today. I didnt want to buy shares back before the ex divy date, but I think I will be forced to. I will add shares if we see $11.25-11.30. That is below the offering price!

CHCInvestments Posted - 09/25/24

@dan101 I disagree, somewhat. I do not think they will waste this money. This is not "debt".......this is either to buy preferred A/B shares back, which is a debt that costs us 11-12% a year and $50,000,000. Or they will use it to buy $AJX to use as our mREIT spin-off company. I am not happy with offering either though, but it will be good in the end, imho. Who knows, they me be about to buy something completely different even. We shall see. Best to you.

CHCInvestments Posted - 09/24/24

$RITM I am starting to think this may not be for buying back Preferred A/B shares. Still a high probability that they will, but they could possibly be preparing to buy $AJX or something else as well. I messed up on my math earlier. I said this would save us $50M a year in dividend payments, but I forgot to subtract the $34.5M we will then be paying on common share dividend....and that $50M number will drop as rates drop. The real number is $48M - $34.5M = $14-15M a year savings. But even if rates drop 1-2%, the preferred divy % rate would only drop to 10%, so $2.50 a year x 17.5M would be $44M. So as you can see, every 1% the preferred divy % drops, only saves us a couple million a year. SO now I ask myself, is it even worth the hassle to save $1M a month??? This makes me think we may get a PR telling us we are buying something. If you all remember, was it last year they announced they were buying something and pre-released earnings at same time? Be ready!!

CHCInvestments Posted - 09/24/24

@ProfitConfucius What you think of $RITM offering? Looks like they are either buying $AJX or else, more likely....they are buying back the A & B Preferred shares. Will save them $50,000,000 a year in dividends they pay on them and it will only drop earnings by 1 penny or so per quarter. I am not sure how buying back $400,000,000 in preferred shares will effect the book value. You have any idea?? I like this deal. I have no problem giving up 35M shares to buy back $400M in preferred shares, but I have no idea how to even figure the book value. Does buying back $400M preferred stock even change the book? Thanks brother!

CHCInvestments Posted - 09/24/24

@czav @Bierkoenig That, or they may be about to buy $AJX. This is good news!

CHCInvestments Posted - 09/23/24

@GymBruh69 @biftwits I think Michael will stay tight lipped......he is not a very open transparent type of guy. Loose lips, sink ships. He knows what he has planned, and we will probably not know until it happens. Keep an eye on $AJX though :)

CHCInvestments Posted - 09/22/24

@ProfitConfucius Yes sir, just need to be patient I think. We will get a spin off at some point. I still think $AJX may end up being merged or bought out by us. Best to you.

CHCInvestments Posted - 2 months ago

$AJX Am I the only one who ever watches this stock? This will be some easy money I think! Just my opinion, but this will be a 100% winner, or close to it!

CHCInvestments Posted - 2 months ago

$RITM If you go back and look at terms of $EFC and $AJX merger agreement, I could see how this could easily integrate with RITM. EFC was paying basically $7.33 for AJX. Every AJX share was going to get around 1/2 share of EFC. EFC shareholders would then have owned 85% of AJX. Now imagine if RITM would give 1 share of our stock for every 2 shares of AJX and us own 85%, then spin off all our REIT stuff to the AJX ticker, or change ticker to NRZ. Then us current shareholders would own RITM and AJX/NRZ shares. RITM would be manager of all the REIT stuff but free to get crazy with the hedge fund/AUM side of business. The only catch is, RITM must start making money on the hedge fund/AUM in order for it to maintain a nice share price.....since the meat and taters are in the REIT side of business for now. Thoughts or opinions welcome??

CHCInvestments Posted - 2 months ago

$RITM Congrats to any of you who may have played $AJX hunch with me. I still think RITM buys em out, merges or in some way uses AJX to spin off our REIT business. I think AJX will go to $6-7 area, just my own opinion. DO your own DD, I am a roofer, not a professional analyst.

CHCInvestments Posted - 2 months ago

@GymBruh69 $AJX was suppose to merge with $EFC , but in Oct. it was called off. Not sure why.....I just recently started in it because RITM has a stake in it and our CEO is now CEO of AJX as well. I feel like it may be a takeover target by RITM......just pure gut feeling. Best to you!

CHCInvestments Posted - 2 months ago

$RITM I love this stock, but I swear it seems like I am doing better in $MFA, $AJX, $MPW then I am here. They need to up their game.......I am becoming impatient!

CHCInvestments Posted - 2 months ago

$AJX You all ready for a ride.....???

CHCInvestments Posted - 2 months ago

$RITM Looks like someone is trying to get in $AJX and pushing the buy! We should get divy announcement next week? I am staying long and strong, although the market may tank us yet!

DonCorleone77 Posted - 2 months ago

$AJX From Friday: Great Ajax files $400M mixed securities shelf

CHCInvestments Posted - 08/31/24

@biftwits I think it is almost impossible to know with any certainty how it would work. There are just so many options for doing it. The thing is they will eventually have no choice but to do it. First you have to look at what it takes to qualify as a REIT. 75% of assets must be in real estate, cash or US treasuries. Secondly, 75% of income must come from real estate sales, rents or interest on mortgages. I personally think at some point they spin NewRez off and list it as say NRZ. Current shareholders will receive like 1 share of NRZ for every 4 RITM shares we own. So then you would own your RITM shares you own now, plus the NRZ shares. NRZ would be the REIT and RITM would just be an asset manager/hedge fund/parent company of NRZ. So if you have 10,000 RITM shares, you would also be given 2,500 of the NRZ shares. RITM would no longer pay the dividend, NRZ would be the dividend payer. But as I have said before, $AJX could somehow play into the future spinoff. Just speculating.

CHCInvestments Posted - 08/28/24

@Jonnycourage This is a pretty good explanation of why $RITM should be higher. I wish we would eventually get NewRez spun off, IPO'd, whatever they want to call it. NewRez is probably worth, or soon will be worth.....what we are trading at now, by itself! Then you throw in MSR's....this is worthy of its own company. RITM will be the parent company managing it's asset management hedge fund......and the REIT side will trade under it's own ticker. I say bring back NRZ ticker in IPO, or merge us with $AJX. Let current shareholders own the REIT company and the hedge company. Then they get valuation on NRZ/AJX as well as RITM. I think they are waiting to do this to get the hedge fund/asset management business making good money, that way when they spin off mREIT business, RITM will still have solid earnings and profits. If they spin off NewRez now, I am not sure how much RITM would even be making....but if they just spin off NewRez, I would think that profit would still be part of RITM.

MaxxedSwinger Posted - 08/24/24

$AJX 💥

CHCInvestments Posted - 08/23/24

@Tradedrew100 Yeah, I am just slowly adding it. Just I have confidence in it either way. Either Michael will build it into a profitable company, or we will buy em out. They have such a small market cap....really small company, but they are a REIT and that just may make it more valuable to $RITM. I see it this way, I have no idea how much cost would be involved in having an IPO to spin off RITM mREITs business, but you figure for $200M or so we can buy remaining shares in $AJX, then merge it with our mREITs, spin it off to current shareholders.......and it trade as a publicly listed REIT which would be owned by RITM, which would be a hedge fund manager. Kills 2 birds with 1 rock. RITM gets to become a hedge fund and we get to still own our mREIT.

CHCInvestments Posted - 08/23/24

$RITM I still think there is more to $AJX than meets the eye. I still think that perhaps AJX becomes the spin off for RITM mREITs business. Either way, AJX is a good buy I think, because Michael and Co. is running it........and we all know what he turned NRZ into from scratch, no reason to not believe he will not do the same with AJX. So I see them as a win/win. Either RITM buys the remainder of them and spins our mREITs into it, or they turn AJX around. Win/Win! Bullish AJX and RITM!!!

CHCInvestments Posted - 08/23/24

$RITM We are gonna start just printing money. You are about to learn what we can make with refinances, new mortgages, servicing and hedge fund. I think this time next year, we will be above where we were pre-pandemic.......way ABOVE! We will soon reap the crop we planted 3-4 years ago. We are about to see just what Caliber purchase was for, we are about to see the rewards for purchasing Sculptor. Keep your eye on $AJX as well.......I have a sneaking suspicion on it. We shall see. I like AJX long, and $MFA......what a nice one that is!