Wall Street brokerages expect that New Residential Investment Corp (NYSE:NRZ) will report $245.36 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for New Residential Investment’s earnings, with estimates ranging from $217.10 million to $299.08 million. New Residential Investment posted sales of $226.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 6th.
According to Zacks, analysts expect that New Residential Investment will report full year sales of $1.05 billion for the current fiscal year, with estimates ranging from $891.40 million to $1.23 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.19 billion, with estimates ranging from $1.04 billion to $1.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow New Residential Investment.
New Residential Investment (NYSE:NRZ) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The firm had revenue of $216.08 million during the quarter, compared to analysts’ expectations of $241.88 million. New Residential Investment had a net margin of 31.89% and a return on equity of 13.14%. During the same period in the previous year, the company earned $0.58 EPS.
NRZ stock traded down $0.16 during midday trading on Friday, hitting $17.44. The stock had a trading volume of 5,281,800 shares, compared to its average volume of 4,174,991. The firm has a market cap of $7.29 billion, a PE ratio of 13.02 and a beta of 1.09. New Residential Investment has a 12-month low of $13.63 and a 12-month high of $17.66. The company’s 50-day moving average price is $16.84 and its 200 day moving average price is $15.71.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 30th. This represents a $2.00 annualized dividend and a dividend yield of 11.47%. New Residential Investment’s dividend payout ratio is presently 92.17%.
Several hedge funds and other institutional investors have recently made changes to their positions in NRZ. Orion Portfolio Solutions LLC acquired a new position in shares of New Residential Investment during the 4th quarter valued at $36,000. Reilly Financial Advisors LLC acquired a new position in shares of New Residential Investment during the 4th quarter valued at $39,000. Liberty Wealth Management LLC lifted its holdings in shares of New Residential Investment by 57.5% during the 4th quarter. Liberty Wealth Management LLC now owns 2,637 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 963 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of New Residential Investment by 1,727.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,595 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of New Residential Investment during the 4th quarter valued at $52,000. 51.15% of the stock is owned by institutional investors.
About New Residential Investment
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.
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