Equities research analysts forecast that New Residential Investment Corp (NYSE:NRZ) will announce $242.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for New Residential Investment’s earnings, with the highest sales estimate coming in at $255.60 million and the lowest estimate coming in at $230.00 million. New Residential Investment posted sales of $235.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The business is expected to announce its next quarterly earnings results on Tuesday, February 12th.
According to Zacks, analysts expect that New Residential Investment will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $970.00 million to $1.05 billion. For the next financial year, analysts expect that the firm will report sales of $1.01 billion, with estimates ranging from $989.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for New Residential Investment.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The business had revenue of $262.72 million during the quarter, compared to analysts’ expectations of $231.40 million. New Residential Investment had a net margin of 79.22% and a return on equity of 14.35%.
Several institutional investors have recently bought and sold shares of NRZ. Nan Shan Life Insurance Co. Ltd. boosted its holdings in shares of New Residential Investment by 35.0% in the third quarter. Nan Shan Life Insurance Co. Ltd. now owns 14,811,133 shares of the real estate investment trust’s stock valued at $263,934,000 after acquiring an additional 3,843,970 shares in the last quarter. State Treasurer State of Michigan lifted its stake in New Residential Investment by 362.1% during the third quarter. State Treasurer State of Michigan now owns 3,096,176 shares of the real estate investment trust’s stock valued at $55,174,000 after purchasing an additional 2,426,176 shares during the last quarter. Wells Fargo & Company MN lifted its stake in New Residential Investment by 96.3% during the third quarter. Wells Fargo & Company MN now owns 2,878,288 shares of the real estate investment trust’s stock valued at $51,292,000 after purchasing an additional 1,412,178 shares during the last quarter. Mackay Shields LLC lifted its stake in New Residential Investment by 872.7% during the second quarter. Mackay Shields LLC now owns 934,048 shares of the real estate investment trust’s stock valued at $16,337,000 after purchasing an additional 838,024 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in New Residential Investment during the third quarter valued at approximately $14,774,000. Institutional investors and hedge funds own 53.81% of the company’s stock.
Shares of New Residential Investment stock traded up $0.06 on Friday, hitting $16.77. The company had a trading volume of 1,096,900 shares, compared to its average volume of 3,218,477. The stock has a market capitalization of $5.69 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 7.12 and a beta of 0.87. New Residential Investment has a 52 week low of $15.24 and a 52 week high of $18.75.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Monday, October 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 11.93%. The ex-dividend date was Friday, September 28th. New Residential Investment’s dividend payout ratio (DPR) is presently 70.67%.
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 Related Assets, Residential Securities and Loans, and Other Investments 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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