Brokerages predict that New Residential Investment Corp. (NYSE:NRZ) will report $163.80 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for New Residential Investment’s earnings. The highest sales estimate is $169.59 million and the lowest is $158.00 million. New Residential Investment reported sales of $103.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 58.5%. The firm is scheduled to announce its next earnings report on Monday, October 25th.
According to Zacks, analysts expect that New Residential Investment will report full-year sales of $618.32 million for the current financial year, with estimates ranging from $613.00 million to $623.64 million. For the next year, analysts forecast that the company will report sales of $697.63 million, with estimates ranging from $647.26 million to $748.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for New Residential Investment.
New Residential Investment (NYSE:NRZ) last posted its earnings results on Thursday, July 29th. The real estate investment trust reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. New Residential Investment had a return on equity of 12.73% and a net margin of 61.81%.
A number of large investors have recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in shares of New Residential Investment during the 1st quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of New Residential Investment during the 2nd quarter valued at approximately $26,000. Tradition Wealth Management LLC acquired a new stake in shares of New Residential Investment during the 2nd quarter valued at approximately $29,000. TCI Wealth Advisors Inc. lifted its position in shares of New Residential Investment by 1,807.2% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,166 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 3,000 shares during the period. Finally, Horan Securities Inc. acquired a new stake in shares of New Residential Investment during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.
NYSE:NRZ traded up $0.04 during trading hours on Friday, hitting $10.93. The company’s stock had a trading volume of 77,038 shares, compared to its average volume of 5,551,424. The stock has a market capitalization of $5.10 billion, a P/E ratio of 8.64 and a beta of 1.93. The stock has a fifty day moving average of $10.08 and a 200-day moving average of $10.47. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.10. New Residential Investment has a 52-week low of $7.27 and a 52-week high of $11.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Monday, October 4th will be paid a dividend of $0.25 per share. This is an increase from New Residential Investment’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.15%. New Residential Investment’s dividend payout ratio is 54.79%.
About New Residential Investment
New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate.
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