New Residential Investment (NYSE:NRZ) Announces Earnings Results, Misses Expectations By $0.01 EPS

New Residential Investment (NYSE:NRZ) posted its earnings results on Tuesday. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01), Briefing.com reports. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The firm had revenue of $188.04 million for the quarter, compared to analysts’ expectations of $240.28 million. During the same period in the previous year, the company earned $0.58 EPS.

NYSE:NRZ remained flat at $$15.68 during midday trading on Wednesday. 3,230,513 shares of the company were exchanged, compared to its average volume of 2,769,290. New Residential Investment has a 12 month low of $13.86 and a 12 month high of $18.75. The business has a 50-day simple moving average of $15.49. The company has a market capitalization of $6.55 billion, a P/E ratio of 6.59 and a beta of 1.08.

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 12.76%. New Residential Investment’s payout ratio is 84.03%.

In related news, Director Andrew Sloves purchased 1,800 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $16.65 per share, for a total transaction of $29,970.00. Following the purchase, the director now owns 29,481 shares of the company’s stock, valued at approximately $490,858.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Saltzman purchased 14,174 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $16.66 per share, for a total transaction of $236,138.84. Following the purchase, the director now directly owns 38,887 shares in the company, valued at approximately $647,857.42. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

NRZ has been the subject of a number of analyst reports. Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. ValuEngine cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. New Residential Investment currently has an average rating of “Hold” and a consensus price target of $18.88.

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.

See Also: Buy-Side Analysts

Earnings History for New Residential Investment (NYSE:NRZ)

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