New Residential Investment Corp (NYSE:NRZ) – Equities research analysts at Piper Jaffray Companies reduced their Q4 2020 EPS estimates for New Residential Investment in a research note issued to investors on Tuesday, May 14th. Piper Jaffray Companies analyst K. Barker now forecasts that the real estate investment trust will post earnings of $0.59 per share for the quarter, down from their prior estimate of $0.60.
New Residential Investment (NYSE:NRZ) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The firm had revenue of $423.08 million during the quarter, compared to analyst estimates of $403.45 million. During the same period last year, the business earned $0.58 earnings per share. The business’s revenue was up 62.9% on a year-over-year basis.
Shares of NRZ opened at $16.67 on Thursday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 7.00 and a beta of 1.09. New Residential Investment has a 1-year low of $13.86 and a 1-year high of $18.75.
A number of hedge funds have recently made changes to their positions in NRZ. State Treasurer State of Michigan lifted its stake in New Residential Investment by 131.1% in the 4th quarter. State Treasurer State of Michigan now owns 7,154,734 shares of the real estate investment trust’s stock worth $101,669,000 after purchasing an additional 4,058,558 shares in the last quarter. Norges Bank purchased a new stake in New Residential Investment in the 4th quarter worth $50,412,000. Vaughan Nelson Investment Management L.P. raised its position in shares of New Residential Investment by 87.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 7,103,965 shares of the real estate investment trust’s stock valued at $100,946,000 after buying an additional 3,318,765 shares in the last quarter. BlackRock Inc. raised its position in shares of New Residential Investment by 12.4% during the 1st quarter. BlackRock Inc. now owns 24,944,962 shares of the real estate investment trust’s stock valued at $421,818,000 after buying an additional 2,755,787 shares in the last quarter. Finally, Graticule Asia Macro Advisors LLC purchased a new stake in shares of New Residential Investment during the 1st quarter valued at about $16,832,000. Institutional investors and hedge funds own 49.25% of the company’s stock.
In other New Residential Investment news, Director Andrew Sloves acquired 1,800 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $16.65 per share, with a total value of $29,970.00. Following the transaction, the director now directly owns 29,481 shares in the company, valued at approximately $490,858.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Nierenberg acquired 60,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were acquired at an average cost of $16.50 per share, with a total value of $990,000.00. Following the transaction, the chief executive officer now owns 995,352 shares in the company, valued at $16,423,308. The disclosure for this purchase can be found here. In the last three months, insiders have bought 75,974 shares of company stock valued at $1,256,109. Insiders own 0.47% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 4th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date was Wednesday, April 3rd. New Residential Investment’s payout ratio is 84.03%.
New Residential Investment Company Profile
New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.
Further Reading: Systematic Risk and Investors
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