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Rithm Capital Corp (NYSE:RITM) is one of the top undervalued REIT stocks to buy now. On April 28, Rithm Capital Corp (NYSE:RITM) delivered strong first-quarter results despite a challenging, volatile market environment.

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Net income in the quarter increased to $67.8 million or $0.12 per diluted share compared to $53.1 million or $0.09 a share in the fourth quarter. However, earnings available for distribution dropped to $289.6 million or $0.51 per diluted common share, compared to $418 million or $0.74 per diluted share in the fourth quarter.

During the quarter, the company completed four non-qualified mortgage securitizations totaling $2 billion. It also acquired $140 million in home improvement loans, bringing the total purchased to date under the Investment portfolio to $667 million.

Rithm Capital Corp also recorded $1.6 billion in origination volume, an 80% year-over-year increase. Assets under management on the alternative asset management platform increased to $59 billion as of March 31, up from $35 billion at the same period last year, driven by the acquisition of Crestline.

Rithm Capital Corp. (NYSE:RITM) is a global alternative asset manager and real estate investment trust (REIT) focused on residential/commercial real estate, mortgage servicing rights (MSRs), and credit-related businesses. Through subsidiaries such as Newrez and Genesis Capital, it operates a vertically integrated model encompassing mortgage origination, servicing, and transitional lending.

While we acknowledge the potential of RITM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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