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. Its portfolio includes mortgage servicing related assets, residential mortgage backed securities (RMBS), residential mortgage loans and other investments. The Company's servicing related assets include its investments in Excess MSRs, MSRs and servicer advances. The Company invests in agency RMBS and non-agency RMBS. The Company's other investments consist of consumer loans.
Industry, Sector and Symbol:
- Industry: REIT - Residential
- Sub-Industry: N/A
- Symbol: NYSE:NRZ
- CUSIP: N/A
- Web: www.newresi.com
- Market Cap: $5.09 billion
- Outstanding Shares: 307,334,000
- 50 Day Moving Avg: $16.65
- 200 Day Moving Avg: $16.20
- 52 Week Range: $12.58 - $17.86
Sales & Book Value:
- Trailing P/E Ratio: 8.12
- Foreward P/E Ratio: 7.81
- P/E Growth: 12.37
- Annual Revenue: $876.3 million
- Price / Sales: 5.80
- Book Value: $13.35 per share
- Price / Book: 1.24
- Annual Dividend: $1.84
- Dividend Yield: 11.6%
- Net Margins: 38.93%
- Return on Equity: 15.13%
- Return on Assets: 2.79%
- Current Ratio: 0.19%
- Quick Ratio: 0.19%
- Average Volume: 4.27 million shs.
- Beta: 0.96
- Short Ratio: 0.86
Frequently Asked Questions for New Residential Investment Corp (NYSE:NRZ)
What is New Residential Investment Corp's stock symbol?
New Residential Investment Corp trades on the New York Stock Exchange (NYSE) under the ticker symbol "NRZ."
How often does New Residential Investment Corp pay dividends? What is the dividend yield for New Residential Investment Corp?
New Residential Investment Corp declared a quarterly dividend on Monday, January 30th. Shareholders of record on Monday, March 27th will be paid a dividend of $0.48 per share on Friday, April 28th. This represents a $1.92 dividend on an annualized basis and a yield of 11.60%. The ex-dividend date of this dividend is Thursday, March 23rd. This is a boost from New Residential Investment Corp's previous quarterly dividend of $0.46. View New Residential Investment Corp's Dividend History.
How were New Residential Investment Corp's earnings last quarter?
New Residential Investment Corp (NYSE:NRZ) posted its quarterly earnings data on Monday, May, 1st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $170.60 million for the quarter, compared to analyst estimates of $239.83 million. New Residential Investment Corp had a return on equity of 15.13% and a net margin of 38.93%. New Residential Investment Corp's revenue was down 21.4% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. View New Residential Investment Corp's Earnings History.
When will New Residential Investment Corp make its next earnings announcement?
Where is New Residential Investment Corp's stock going? Where will New Residential Investment Corp's stock price be in 2017?
8 equities research analysts have issued twelve-month target prices for New Residential Investment Corp's shares. Their predictions range from $15.00 to $17.50. On average, they anticipate New Residential Investment Corp's stock price to reach $16.42 in the next year. View Analyst Ratings for New Residential Investment Corp.
What are analysts saying about New Residential Investment Corp stock?
Here are some recent quotes from research analysts about New Residential Investment Corp stock:
- 1. According to Zacks Investment Research, "New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. " (4/5/2017)
- 2. FBR & Co analysts commented, "Last week, we hosted an investor dinner with New Residential's CEO, Michael Nierenberg. During the dinner we discussed the overall operating fundamentals of the company, the risk related to its servicing and subservicing counter-parties, call rights, and how rising (or falling) rates could affect earnings and book value. The conversation strengthened our belief that New Residential is well positioned to outperform residential mREIT peers under any interest rate environment and could see some earnings growth, especially if it is able to accelerate the cleanup calls. As such, we view New Residential as undervalued considering a growing book value and a low- to mid-teens ROE, which sets it apart from peers who have more earnings and book value headwinds but trade at comparable dividend yields. We are maintaining our earnings estimates and reiterate our Outperform rating and $17.50 price target on shares of New Residential, which implies a 16% total return from current levels when including the dividend." (3/28/2017)
Are investors shorting New Residential Investment Corp?
New Residential Investment Corp saw a increase in short interest in the month of April. As of April 28th, there was short interest totalling 5,760,283 shares, an increase of 61.6% from the April 13th total of 3,564,554 shares. Based on an average trading volume of 8,346,621 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.9% of the shares of the company are short sold.
Who are some of New Residential Investment Corp's key competitors?
Some companies that are related to New Residential Investment Corp include Equity Lifestyle Properties (ELS), Camden Property Trust (CPT), AGNC Investment Corp (AGNC), Apartment Investment and Management Co (AIV), Sun Communities (SUI), American Campus Communities (ACC), American Homes 4 Rent (AMH), Two Harbors Investment Corp (TWO), Education Realty Trust (EDR), Associated Estates Realty (AEC), Monogram Residential Trust (MORE), Capstead Mortgage (CMO), ARMOUR Residential REIT (ARR), Altisource Residential Corp (RESI), New York Mortgage Trust (NYMT), American Residential Properties (ARPI), Preferred Apartment Communities (APTS) and Orchid Island Capital (ORC).
Who are New Residential Investment Corp's key executives?
New Residential Investment Corp's management team includes the folowing people:
- Michael Nierenberg, Chairman of the Board, President, Chief Executive Officer
- Nicola Santoro Jr., Chief Financial Officer, Treasurer
- Jonathan R. Brown, Chief Accounting Officer
- Cameron D. MacDougall, Secretary
- Kevin J. Finnerty, Independent Director
- Douglas L. Jacobs, Independent Director
- Robert J. McGinnis, Independent Director
- David Saltzman, Independent Director
- Andrew Sloves, Independent Director
Who owns New Residential Investment Corp stock?
New Residential Investment Corp's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.65%), Vanguard Group Inc. (8.08%), State Street Corp (1.92%), Bank of America Corp DE (1.72%), Wellington Management Group LLP (1.14%) and UBS Group AG (1.12%). Company insiders that own New Residential Investment Corp stock include Andrew Sloves, Michael Nierenberg and Wesley R Edens. View Institutional Ownership Trends for New Residential Investment Corp.
Who sold New Residential Investment Corp stock? Who is selling New Residential Investment Corp stock?
New Residential Investment Corp's stock was sold by a variety of institutional investors in the last quarter, including Credit Suisse AG, Bank of Montreal Can, Advisors Capital Management LLC, FMR LLC, Northpointe Capital LLC, Advisors Asset Management Inc., Morgan Stanley and Alliancebernstein L.P.. View Insider Buying and Selling for New Residential Investment Corp.
Who bought New Residential Investment Corp stock? Who is buying New Residential Investment Corp stock?
New Residential Investment Corp's stock was acquired by a variety of institutional investors in the last quarter, including BlackRock Inc., Vanguard Group Inc., Wellington Management Group LLP, Renaissance Technologies LLC, Whitebox Advisors LLC, Investec Asset Management LTD, Prudential Financial Inc. and State Street Corp. Company insiders that have bought New Residential Investment Corp stock in the last two years include Andrew Sloves and Michael Nierenberg. View Insider Buying and Selling for New Residential Investment Corp.
How do I buy New Residential Investment Corp stock?
Shares of New Residential Investment Corp can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is New Residential Investment Corp's stock price today?
MarketBeat Community Rating for New Residential Investment Corp (NYSE NRZ)MarketBeat's community ratings are surveys of what our community members think about New Residential Investment Corp and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of New Residential Investment Corp stock can currently be purchased for approximately $16.55.
Earnings History for New Residential Investment Corp (NYSE:NRZ)Earnings History by Quarter for New Residential Investment Corp (NYSE NRZ)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/31/2017|| || || || || || || || |
|5/1/2017||Q1 2017||$0.53||$0.54||$239.83 million||$170.60 million||View||Listen|
|2/21/2017||Q416||$0.55||$0.62||$158.30 million||$231.81 million||View||Listen|
|11/2/2016||Q316||$0.49||$0.51||$147.70 million||$185.90 million||View||N/A|
|8/2/2016||Q216||$0.50||$0.52||$161.00 million||$137.43 million||View||N/A|
|5/4/2016||Q116||$0.50||$0.49||$114.71 million||$108.81 million||View||N/A|
|2/24/2016||Q415||$0.49||$0.52||$118.41 million||$119.58 million||View||Listen|
|11/3/2015||Q315||$0.49||$0.49||$144.77 million||$104.78 million||View||N/A|
|8/10/2015||Q215||$0.46||$0.45||$70.48 million||$96.31 million||View||Listen|
|5/8/2015||Q115||$0.43||$0.44||$58.44 million||$50.39 million||View||N/A|
|2/27/2015||Q314||$0.39||$0.41||$54.66 million||$53.23 million||View||N/A|
|11/6/2014||Q3 2014||$0.37||$0.43||$64.28 million||View||N/A|
Earnings Estimates for New Residential Investment Corp (NYSE:NRZ)
2017 EPS Consensus Estimate: $2.09
2018 EPS Consensus Estimate: $2.10
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for New Residential Investment Corp (NYSE:NRZ)
|Most Recent Dividend:||4/28/2017|
|Dividend Growth:||55.40% (3 Year Average)|
|Payout Ratio:||112.20% (Trailing 12 Months of Earnings) |
86.79% (Based on This Year's Estimates)
86.79% (Based on Next Year's Estimates)
|Track Record:||3 Years of Consecutive Dividend Growth|
Dividend History by Quarter for New Residential Investment Corp (NYSE NRZ)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for New Residential Investment Corp (NYSE:NRZ)
Insider Ownership Percentage: 4.00%Insider Trades by Quarter for New Residential Investment Corp (NYSE:NRZ)
Institutional Ownership Percentage: 46.29%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|2/3/2017||Michael Nierenberg||CEO||Buy||18,600||$15.00||$279,000.00|| |
|11/11/2016||Andrew Sloves||Director||Buy||13,200||$14.22||$187,704.00|| |
|6/15/2015||Michael Nierenberg||CEO||Buy||9,100||$16.05||$146,055.00|| |
|6/15/2015||Wesley R Edens||Director||Sell||3,245,764||$15.88||$51,542,732.32|| |
|5/13/2015||Alan L Tyson||Director||Buy||20,000||$16.85||$337,000.00|| |
|4/13/2015||Loan Servicing Solutions Home||Major Shareholder||Sell||28,286,980||$14.95||$422,890,351.00|| |
|4/13/2015||Michael Nierenberg||CEO||Buy||250,000||$15.25||$3,812,500.00|| |
|4/30/2014||Michael Nierenberg||CEO||Buy||1,000,000||$6.10||$6,100,000.00|| |
Headline Trends for New Residential Investment Corp (NYSE:NRZ)
Latest Headlines for New Residential Investment Corp (NYSE:NRZ)
New Residential Investment Corp (NRZ) Chart for Tuesday, May, 30, 2017