Jul. 30 at 3:54 AM
$RITM @BRITLS Got me to thinking back to pre-Covid......last time we traded this high. So I went back to see how then compares to today. In June of 2019 we were trading near
$16 a share. Here is how earnings were in June 2019....GAAP Net Loss of
$31.9 million, or (
$0.08) per diluted share, Core Earnings of
$219.8 million, or
$0.53 per diluted share. Common Dividend of
$207.8 million, or
$0.50 per share. Book Value per share of
$16.17. This week we reported GAAP Net Income:
$283.9 million or
$0.53 per diluted share. Earnings Available for Distribution:
$291.1 million or
$0.54 per diluted share. Book Value:
$6.7 billion or
$12.71. Common Dividend of
$130 million, or
$0.25 per share. I think it is safe to say we are back at pre-Covid levels.......but yet that dividend is killing us! This should be paying .40 at least in dividend, and if it did we would be at
$14-15 a share! This thing is gonna fly when rates start dropping. My question is, how do we get book value to
$16??
