New Residential Investment Corp. (NYSE:NRZ) Releases Earnings Results, Beats Estimates By $0.48 EPS

New Residential Investment Corp. (NYSE:NRZ) announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.48, Bloomberg Earnings reports. The company had revenue of $356.80 million during the quarter, compared to the consensus estimate of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same period in the prior year, the business earned $0.52 earnings per share.

Shares of New Residential Investment Corp. (NYSE NRZ) opened at 16.55 on Friday. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $16.45. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 5.88 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.08%. The ex-dividend date of this dividend was Thursday, June 29th. This is a positive change from New Residential Investment Corp.’s previous quarterly dividend of $0.48. New Residential Investment Corp.’s dividend payout ratio is currently 72.20%.

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A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of New Residential Investment Corp. during the fourth quarter worth approximately $789,000. Quadrature Capital Ltd purchased a new position in New Residential Investment Corp. during the fourth quarter worth $416,000. Teachers Advisors LLC raised its position in New Residential Investment Corp. by 326.1% in the fourth quarter. Teachers Advisors LLC now owns 1,667,831 shares of the real estate investment trust’s stock worth $26,218,000 after buying an additional 1,276,387 shares during the last quarter. Park National Corp OH raised its position in New Residential Investment Corp. by 50.0% in the first quarter. Park National Corp OH now owns 15,000 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 5,000 shares during the last quarter. Finally, Creative Planning raised its position in New Residential Investment Corp. by 12.2% in the first quarter. Creative Planning now owns 58,822 shares of the real estate investment trust’s stock worth $999,000 after buying an additional 6,386 shares during the last quarter. 55.01% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Vetr downgraded shares of New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 price target for the company. in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.00 price objective on shares of New Residential Investment Corp. in a research note on Thursday, August 3rd. FBR & Co reissued an “outperform” rating and issued a $17.50 price objective on shares of New Residential Investment Corp. in a research note on Tuesday, May 2nd. Finally, BidaskClub raised shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.62.

About New Residential Investment Corp.

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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