New Residential Investment Corp. (NYSE: NRZ) Expected to Post Q2 2022 Earnings of $ 0.28 Per Share


New Residential Investment Corp. (NYSE: NRZ – Get Rating) – Equities research analysts at Wedbush lowered their Q2 2022 earnings per share estimates for New Residential Investment in a research note issued to investors on Wednesday, June 22nd. Wedbush analyst H. Coffey now forecasts that the real estate investment trust will post earnings of $ 0.28 per share for the quarter, down from their previous estimate of $ 0.34. The consensus estimate for New Residential Investment’s current full-year earnings is $ 1.16 per share.

New Residential Investment (NYSE: NRZ – Get Rating) last posted its earnings results on Tuesday, May 3rd. The real estate investment trust reported $ 0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.35 by $ 0.02. New Residential Investment had a return on equity of 13.84% and a net margin of 28.82%. During the same quarter in the previous year, the firm earned $ 0.34 EPS.

NRZ has been the topic of several other reports. Piper Sandler cut New Residential Investment from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $ 12.00 to $ 10.00 in a research note on Monday, June 13th. Raymond James upped their price target on New Residential Investment from $ 13.00 to $ 13.50 and gave the stock an “outperform” rating in a research note on Tuesday, March 29th. Finally, StockNews.com raised New Residential Investment from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $ 12.20.

NRZ opened at $ 9.36 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44. New Residential Investment has a 52-week low of $ 8.18 and a 52-week high of $ 11.81. The stock has a market capitalization of $ 4.37 billion, a PE ratio of 4.14 and a beta of 1.66. The stock’s 50 day moving average price is $ 10.56 and its 200-day moving average price is $ 10.63.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 1st will be issued a $ 0.25 dividend. This represents a $ 1.00 annualized dividend and a yield of 10.68%. The ex-dividend date of this dividend is Thursday, June 30th. New Residential Investment’s dividend payout ratio (DPR) is 44.25%.

A number of institutional investors have recently added or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in New Residential Investment by 1,507.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,259,186 shares of the real estate investment trust’s stock worth $ 13,826,000 after acquiring an additional 1,180,866 shares in the last quarter. TradeLink Capital LLC bought a new position in shares of New Residential Investment during the first quarter valued at $ 329,000. Midwest Wealth Management Inc. lifted its holdings in shares of New Residential Investment by 8.0% during the first quarter. Midwest Wealth Management Inc. now owns 120,002 shares of the real estate investment trust’s stock valued at $ 1,318,000 after purchasing an additional 8,916 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of New Residential Investment by 7.1% during the first quarter. Advisory Services Network LLC now owns 69,964 shares of the real estate investment trust’s stock valued at $ 768,000 after purchasing an additional 4,622 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of New Residential Investment by 43.1% during the first quarter. BNP Paribas Arbitrage SA now owns 294,559 shares of the real estate investment trust’s stock valued at $ 3,234,000 after purchasing an additional 88,781 shares in the last quarter. 46.48% of the stock is currently owned by institutional investors and hedge funds.

New Residential Investment Company Profile (Get Rating)

New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans, and Corporate segments. The company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, properties and loans, consumer loans, and other opportunistic investments.

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Earnings History and Estimates for New Residential Investment (NYSE: NRZ)



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