New Residential Investment Corp (NRZ) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.50. The company posted revenue of $137.43 million in the period, compared to analysts expectations of $161.00 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.
Many Wall Street Analysts have commented on New Residential Investment Corp. Compass Point Downgraded New Residential Investment Corp on May 18, 2016 to ” Neutral”, Price Target of the shares are set at $15.
New Residential Investment Corp opened for trading at $13.6 and hit $13.67 on the upside on Friday, eventually ending the session at $13.67, with a gain of 0.81% or 0.11 points. The heightened volatility saw the trading volume jump to 17,87,683 shares. Company has a market cap of $3,151 M.
In a different news, on Jun 16, 2015, Michael Nierenberg (CEO) purchased 9,100 shares at $16.05 per share price. According to the SEC, on Jun 15, 2015, Wesley R Edens (director) sold 3,245,764 shares at $15.88 per share price. On May 14, 2015, Alan L. Tyson (director) purchased 20,000 shares at $16.85 per share price, according to the Form-4 filing with the securities and exchange commission.
New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs) Servicer Advances Real Estate Securities Real Estate Loans Consumer Loans and Corporate. It has acquired Excess MSRs on residential mortgage loans with an aggregate unpaid principal balance (UPB) as of December 31 2014 of approximately $248.7 billion. It acquires and manages a portfolio of credit sensitive real estate securities including Non-Agency and Agency residential mortgage backed securities (RMBS). It has acquired residential mortgage loans including performing non-performing re-performing and reverse mortgage loans.