New Residential Investment (NYSE:NRZ) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

New Residential Investment (NYSE:NRZ) posted its quarterly earnings results on Saturday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06), MarketWatch Earnings reports. The company had revenue of $685.00 million during the quarter, compared to analysts’ expectations of $623.19 million. New Residential Investment had a positive return on equity of 14.32% and a negative net margin of 74.42%. New Residential Investment’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS.

Shares of NYSE NRZ opened at $7.40 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $3.08 billion, a P/E ratio of -2.61 and a beta of 1.70. New Residential Investment has a 1-year low of $2.91 and a 1-year high of $17.66. The business has a fifty day moving average price of $8.04 and a 200 day moving average price of $7.36.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a dividend of $0.15 per share. This is a boost from New Residential Investment’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.11%. The ex-dividend date is Friday, October 2nd. New Residential Investment’s dividend payout ratio is 27.65%.

Several equities research analysts recently commented on NRZ shares. Zacks Investment Research downgraded New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Raymond James boosted their price target on New Residential Investment from $8.50 to $10.50 and gave the company an “outperform” rating in a research note on Thursday, August 20th. ValuEngine upgraded New Residential Investment from a “strong sell” rating to a “sell” rating in a research note on Monday, September 28th. Piper Sandler upgraded New Residential Investment from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.50 to $9.50 in a research note on Thursday, July 16th. Finally, Credit Suisse Group boosted their price target on New Residential Investment from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $11.42.

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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Earnings History for New Residential Investment (NYSE:NRZ)

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