New Residential Investment Corp (NYSE:NRZ) Expected to Post Quarterly Sales of $236.32 Million
Wall Street brokerages expect that New Residential Investment Corp (NYSE:NRZ) will post $236.32 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for New Residential Investment’s earnings. The highest sales estimate is $271.00 million and the lowest is $204.70 million. New Residential Investment reported sales of $262.72 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10%. The firm is expected to report its next earnings results on Thursday, October 24th.
On average, analysts expect that New Residential Investment will report full-year sales of $928.62 million for the current year, with estimates ranging from $842.40 million to $1.01 billion. For the next fiscal year, analysts anticipate that the company will report sales of $938.81 million, with estimates ranging from $767.00 million to $1.10 billion. Zacks’ 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 released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The business had revenue of $188.04 million during the quarter, compared to the consensus estimate of $240.28 million. New Residential Investment had a net margin of 17.24% and a return on equity of 13.22%. During the same period in the prior year, the company earned $0.58 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in NRZ. Penserra Capital Management LLC bought a new position in New Residential Investment during the first quarter valued at $25,000. Trust Co. of Vermont bought a new position in shares of New Residential Investment in the first quarter worth $27,000. Private Capital Group LLC bought a new position in shares of New Residential Investment in the first quarter worth $28,000. Personal Wealth Partners bought a new position in shares of New Residential Investment in the second quarter worth $29,000. Finally, Cedar Wealth Management LLC boosted its holdings in shares of New Residential Investment by 50.0% in the first quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 600 shares during the period. 52.55% of the stock is owned by institutional investors and hedge funds.
Shares of NRZ stock traded up $0.25 during trading on Friday, hitting $14.39. The company’s stock had a trading volume of 175,315 shares, compared to its average volume of 3,814,331. The company has a market cap of $5.99 billion, a PE ratio of 6.05 and a beta of 1.07. The business has a fifty day moving average of $15.13 and a 200-day moving average of $16.13. New Residential Investment has a 52 week low of $13.86 and a 52 week high of $18.75.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 13.90%. The ex-dividend date was Friday, June 28th. New Residential Investment’s dividend payout ratio (DPR) is 84.03%.
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.
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