New Residential Investment Corp (NRZ) Expected to Post Quarterly Sales of $178.15 Million
Analysts expect New Residential Investment Corp (NYSE:NRZ) to report sales of $178.15 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for New Residential Investment’s earnings, with the highest sales estimate coming in at $205.40 million and the lowest estimate coming in at $150.89 million. New Residential Investment reported sales of $231.81 million in the same quarter last year, which indicates a negative year over year growth rate of 23.1%. The firm is expected to issue its next earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that New Residential Investment will report full year sales of $178.15 million for the current fiscal year, with estimates ranging from $974.44 million to $1.03 billion. For the next year, analysts anticipate that the firm will report sales of $706.48 million per share, with estimates ranging from $586.35 million to $826.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover New Residential Investment.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The firm had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 72.1% on a year-over-year basis.
New Residential Investment (NYSE NRZ) traded down $0.08 during trading on Friday, hitting $17.78. 4,430,000 shares of the stock traded hands, compared to its average volume of 3,790,000. New Residential Investment has a 1 year low of $15.03 and a 1 year high of $18.43. The company has a market capitalization of $5,460.00, a P/E ratio of 5.75, a PEG ratio of 8.19 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is 64.72%.
A number of large investors have recently modified their holdings of the stock. Orinda Asset Management LLC bought a new position in New Residential Investment in the fourth quarter worth approximately $805,000. James Investment Research Inc. raised its stake in New Residential Investment by 31.3% in the fourth quarter. James Investment Research Inc. now owns 143,575 shares of the real estate investment trust’s stock worth $2,567,000 after buying an additional 34,230 shares in the last quarter. State of Alaska Department of Revenue bought a new position in New Residential Investment in the fourth quarter worth approximately $327,000. Schwab Charles Investment Management Inc. raised its stake in New Residential Investment by 6.6% in the fourth 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. Finally, Bank of Montreal Can raised its stake in New Residential Investment by 535.6% in the fourth 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. 49.26% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://theolympiareport.com/2018/01/29/new-residential-investment-corp-nrz-expected-to-post-quarterly-sales-of-178-15-million.html.
About New Residential Investment
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for New Residential Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment and related companies with MarketBeat.com's FREE daily email newsletter.