New Residential Investment Corp (NRZ) Expected to Post Earnings of $0.54 Per Share
Equities research analysts expect New Residential Investment Corp (NYSE:NRZ) to announce $0.54 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for New Residential Investment’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.51. New Residential Investment posted earnings of $0.62 per share in the same quarter last year, which would suggest a negative year over year growth rate of 12.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that New Residential Investment will report full-year earnings of $2.73 per share for the current financial year, with EPS estimates ranging from $2.66 to $2.80. For the next financial year, analysts forecast that the company will report earnings of $2.18 per share, with EPS estimates ranging from $2.10 to $2.30. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow New Residential Investment.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. The company had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue was up 72.1% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of New Residential Investment during the 4th quarter worth approximately $327,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of New Residential Investment by 6.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock worth $33,077,000 after buying an additional 114,960 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of New Residential Investment by 535.6% during the 4th quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after buying an additional 2,225,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of New Residential Investment by 9.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 42,100 shares of the real estate investment trust’s stock worth $753,000 after buying an additional 3,700 shares in the last quarter. Finally, Bristol Advisors LLC bought a new position in shares of New Residential Investment in the 4th quarter worth $622,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.
New Residential Investment (NYSE:NRZ) traded down $0.06 during trading hours on Friday, reaching $17.13. 7,689,500 shares of the company’s stock were exchanged, compared to its average volume of 4,724,691. The firm has a market cap of $5,300.00, a P/E ratio of 5.54, a PEG ratio of 7.89 and a beta of 1.02. New Residential Investment has a twelve month low of $15.03 and a twelve month high of $18.43.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.68%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s payout ratio is 64.72%.
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New Residential Investment Company Profile
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.
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