New Residential Investment Corp. (NRZ) Announces Earnings Results

New Residential Investment Corp. (NYSE:NRZ) issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08, Bloomberg Earnings reports. The company had revenue of $331.38 million for the quarter, compared to the consensus estimate of $291.66 million. New Residential Investment Corp. had a net margin of 60.06% and a return on equity of 19.38%. The firm’s revenue was up 72.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS.

New Residential Investment Corp. (NYSE:NRZ) traded down $0.09 during midday trading on Friday, reaching $17.27. 1,383,200 shares of the company’s stock traded hands, compared to its average volume of 2,256,796. New Residential Investment Corp. has a 12 month low of $14.09 and a 12 month high of $17.91. The firm has a market cap of $5,308.12, a PE ratio of 6.10, a PEG ratio of 6.47 and a beta of 1.04.

The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 11.58%. The ex-dividend date of this dividend was Friday, September 29th. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 64.72%.

A number of hedge funds and other institutional investors have recently bought and sold shares of NRZ. BlackRock Inc. boosted its holdings in shares of New Residential Investment Corp. by 39,965.7% in the 1st quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock valued at $451,177,000 after buying an additional 26,504,822 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of New Residential Investment Corp. by 28.9% in the 1st quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after buying an additional 5,571,198 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of New Residential Investment Corp. by 211.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after buying an additional 1,457,525 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of New Residential Investment Corp. by 2,526.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,365,991 shares of the real estate investment trust’s stock valued at $21,255,000 after buying an additional 1,313,980 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of New Residential Investment Corp. in the 3rd quarter valued at $20,913,000. Institutional investors own 48.06% of the company’s stock.

A number of equities analysts have commented on NRZ shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 price target on shares of New Residential Investment Corp. in a report on Sunday, August 27th. FBR & Co reissued a “buy” rating and issued a $17.50 price target on shares of New Residential Investment Corp. in a research note on Monday, October 9th. Barclays PLC raised their price target on shares of New Residential Investment Corp. from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 24th. Vetr downgraded shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $16.55 target price on the stock. in a research note on Thursday, July 20th. Finally, Zacks Investment Research raised shares of New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.93.

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New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Earnings History for New Residential Investment Corp. (NYSE:NRZ)

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