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 five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. 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. It also invests in real estate securities and residential mortgage loans, as well as in consumer loans, including unsecured and homeowner loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. New Residential Investment Corp. was founded in 2011 and is based in New York, New York.
IPO Year:
Exchange: NYSE
Website: newresi.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/13/2022 | $12.00 → $10.00 | Neutral → Underweight | Piper Sandler |
| 5/5/2022 | $12.00 | Overweight → Neutral | Piper Sandler |
| 11/19/2021 | $12.00 → $13.00 | Outperform | RBC Capital |
| 10/18/2021 | $11.00 → $11.50 | Market Outperform | JMP Securities |
| 9/30/2021 | $13.00 | Overweight | Barclays |
| 8/30/2021 | $12.00 → $13.00 | Outperform | Credit Suisse |
Piper Sandler downgraded New Residential Investment from Neutral to Underweight and set a new price target of $10.00 from $12.00 previously
Piper Sandler downgraded New Residential Investment from Overweight to Neutral and set a new price target of $12.00
RBC Capital reiterated coverage of New Residential Inv with a rating of Outperform and set a new price target of $13.00 from $12.00 previously
JMP Securities reiterated coverage of New Residential Inv with a rating of Market Outperform and set a new price target of $11.50 from $11.00 previously
Barclays resumed coverage of New Residential Investment with a rating of Overweight and set a new price target of $13.00
Credit Suisse resumed coverage of New Residential Inv with a rating of Outperform and set a new price target of $13.00 from $12.00 previously
Raymond James reiterated coverage of New Residential Inv with a rating of Outperform and set a new price target of $13.00 from $12.50 previously
Jones Trading downgraded New Residential Inv from Buy to Hold
RBC Capital Mkts initiated coverage of New Residential Investment with a rating of Outperform and set a new price target of $12.00
Credit Suisse reiterated coverage of New Residential Inv with a rating of Outperform and set a new price target of $12.00 from $11.00 previously
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New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it will release its second quarter 2022 financial results for the period ended June 30, 2022 on Tuesday, August 2, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, August 2, 2022 at 8:00 A.M. Eastern Time. As previously announced, the Company's name change to Rithm Capital Corp. (NYSE:RITM, "Rithm Capital" or "Rithm"))) will take effect on August 1, 2022. The Company's common stock will begin trading on the NYSE under the ticker symbol 'RITM' on August 2, 2022. This will replace the Company's current ticker symbol NY
New Residential Investment Corp. (NYSE:NRZ) ("NRZ" or the "Company") announced today it has entered into agreements providing for the internalization of the Company's management function. In conjunction with the internalization, the Company announced plans to change its name and rebrand as Rithm Capital Corp. (NYSE:RITM) ("Rithm Capital"). Internalization Agreement Under the Internalization Agreement, the parties have terminated the Management and Advisory Agreement, dated May 7, 2015 (the "Management Agreement"), effective as of June 17, 2022 (the "Effective Date"). In connection with the termination of the Management Agreement, the Company has agreed to pay FIG LLC (the "Manager") $400
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) today reported the following information for the first quarter ended March 31, 2022: First Quarter 2022 Financial Highlights: GAAP net income of $661.9 million, or $1.37 per diluted common share(1) Core earnings of $177.4 million, or $0.37 per diluted common share(1)(2) Common dividend of $116.7 million, or $0.25 per common share Book value per common share of $12.56(1) Q1 2022 Q4 2021 Summary Operating Results: GAAP Net Income per Diluted Common Share(1) $ 1.37 $ 0.33 GAAP Net Income $ 661.9 million $ 160
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it will release its first quarter 2022 financial results for the period ended March 31, 2022 on Tuesday, May 3, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, May 3, 2022 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential's website, www.newresi.com. All interested parties are welcome to participate on the live call. The conference call may be accessed by dialing 1-833-974-2382 (from within the U.S.) or 1-412-317-5787 (from outside of the U.
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that its Board of Directors (the "Board") has declared first quarter 2022 common and preferred stock dividends. Common Stock Dividend The Board declared a quarterly dividend of $0.25 per share of common stock for the first quarter 2022. The first quarter common stock dividend is payable on April 29, 2022 to shareholders of record on April 4, 2022. Preferred Stock Dividends In accordance with the terms of New Residential's 7.50% Series A Cumulative Redeemable Preferred Stock ("Series A"), the Board declared a Series A dividend for the first quarter 2022 of $0.4687500 per share. In accordance
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) today reported the following information for the fourth quarter and full year ended December 31, 2021: Fourth Quarter 2021 Financial Highlights: GAAP net income of $160.4 million, or $0.33 per diluted common share(1) Core earnings of $191.9 million, or $0.40 per diluted common share(1)(2) Common dividend of $116.7 million, or $0.25 per common share Book value per common share of $11.44(1) Full Year 2021 Financial Highlights: GAAP net income of $705.5 million, or $1.51 per diluted common share(1) Core earnings of $693.2 million, or $1.48 per diluted common share(1)(2) Common dividend of $409.6
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) today announced the tax treatment of its 2021 common and preferred stock dividend distributions. Common Stock Dividends During 2021, taxable dividends for New Residential's common stock (CUSIP #64828T201) were approximately $0.50014 per share. The following table summarizes the tax treatment for the 2021 common stock distributions. Record Pay Ordinary Qualified Section 199A Long-Term Return of Date Date(1) Form Dividend Dividend(2) Dividend(3) Capital Gain Capital Total Q4'20 12/31/20 01/29/21 Cash $0.11768 $0.00005
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it will release its fourth quarter and full year 2021 financial results for the period ended December 31, 2021 on Tuesday, February 8, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, February 8, 2022 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential's website, www.newresi.com. All interested parties are welcome to participate on the live call. The conference call may be accessed by dialing 1-833-974-2382 (from within the U.S.) or 1-412-317-
The Genesis acquisition further reinforces New Residential's position as a leading and diverse investment company New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it has completed the previously announced acquisition of Genesis Capital LLC ("Genesis"), a leading business purpose lender, along with a related portfolio of loans, from affiliates of the Goldman Sachs Group, Inc. ("Goldman Sachs"). The transaction was initially announced on October 11, 2021. "The closing of the Genesis acquisition adds another complementary operating company to New Residential's portfolio of investments," said Michael Nierenberg, Chairman, Chief Executive O
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that its Board of Directors (the "Board") has declared fourth quarter 2021 common and preferred stock dividends. Common Stock Dividend The Board declared a quarterly dividend of $0.25 per share of common stock for the fourth quarter 2021. The fourth quarter common stock dividend is payable on January 28, 2022 to shareholders of record on December 31, 2021. Preferred Stock Dividends In accordance with the terms of New Residential's 7.50% Series A Cumulative Redeemable Preferred Stock ("Series A"), the Board declared a Series A dividend for the fourth quarter 2021 of $0.4687500 per share. In
Newrez LLC ("Newrez", the "Company"), a national mortgage lending and servicing organization, is lending more support to a community near and dear to the organization – veterans – by becoming a 2022 Veterans Golf Association ("VGA") National Sponsor. Dedicated to enriching the lives of veterans and their family members through the camaraderie and sportsmanship of golf, the VGA hosts more than 650 tournaments annually for more than 14,000 members in over 48 states. Through local league play, regional tournaments, and national qualifiers, the VGA helps reinforce values like integrity, respect, and perseverance through the game of golf. Newrez, known for its commitment to meeting the specific
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it will release its second quarter 2022 financial results for the period ended June 30, 2022 on Tuesday, August 2, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, August 2, 2022 at 8:00 A.M. Eastern Time. As previously announced, the Company's name change to Rithm Capital Corp. (NYSE:RITM, "Rithm Capital" or "Rithm"))) will take effect on August 1, 2022. The Company's common stock will begin trading on the NYSE under the ticker symbol 'RITM' on August 2, 2022. This will replace the Company's current ticker symbol NY
New Residential Investment Corp. (NYSE:NRZ) ("NRZ" or the "Company") announced today it has entered into agreements providing for the internalization of the Company's management function. In conjunction with the internalization, the Company announced plans to change its name and rebrand as Rithm Capital Corp. (NYSE:RITM) ("Rithm Capital"). Internalization Agreement Under the Internalization Agreement, the parties have terminated the Management and Advisory Agreement, dated May 7, 2015 (the "Management Agreement"), effective as of June 17, 2022 (the "Effective Date"). In connection with the termination of the Management Agreement, the Company has agreed to pay FIG LLC (the "Manager") $400
Newrez LLC ("Newrez", the "Company"), a national mortgage lending and servicing organization, is committed to helping non-traditional borrowers reach the dream of homeownership through its Smart Series product line ("Non-QM"). Designed to serve borrower needs often overlooked in other non-agency products, Smart Series affords non-traditional borrowers the opportunity to buy their homes at fair price points through expanded guidelines. Today's competitive housing market, changing rates and shifting borrower trends are fueling the demand for such Non-QM loan products, with Smart Series recently surpassing the milestone of $1.3 billion funded. With sights set on its vision to create the futur
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) today reported the following information for the first quarter ended March 31, 2022: First Quarter 2022 Financial Highlights: GAAP net income of $661.9 million, or $1.37 per diluted common share(1) Core earnings of $177.4 million, or $0.37 per diluted common share(1)(2) Common dividend of $116.7 million, or $0.25 per common share Book value per common share of $12.56(1) Q1 2022 Q4 2021 Summary Operating Results: GAAP Net Income per Diluted Common Share(1) $ 1.37 $ 0.33 GAAP Net Income $ 661.9 million $ 160
Newrez LLC ("Newrez", the "Company"), a national mortgage lending and servicing organization, announced today it has welcomed Neenu Kainth as Chief Digital Officer. Ms. Kainth steps into her new role with more than 20 years of proven experience driving digital transformations at Fortune 500 companies. She possesses a keen expertise in building customer solutions through technology and product management, positioning her for success in driving digital innovation, strategy, and execution for the Company as Chief Digital Officer. With a design-centered focus and agile development methodology, Ms. Kainth will drive digital adoption in her new role to improve the customer experience, optimize c
On November 8, 2021, KBRA assigned an Issuer rating of BB+ to NewRez LLC ("NewRez" or "the company"), an indirect, wholly-owned subsidiary of New Residential Investment Corp. (NYSE:NRZ, "the parent company"))). The rating Outlook is Stable. As the principal residential mortgage operating subsidiary of NRZ in recent years, NewRez has grown substantially, both with respect to its servicing portfolio, as well as production, since being acquired by the parent company in July 2018. During 2021, NewRez originated $97.6 billion of loans, and as of YE21, reflected an owned servicing portfolio of ~$122 billion UPB; the majority of which was comprised of GNMA loans. NewRez's recent year operating pe
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that it will release its first quarter 2022 financial results for the period ended March 31, 2022 on Tuesday, May 3, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, May 3, 2022 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential's website, www.newresi.com. All interested parties are welcome to participate on the live call. The conference call may be accessed by dialing 1-833-974-2382 (from within the U.S.) or 1-412-317-5787 (from outside of the U.
New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that its Board of Directors (the "Board") has declared first quarter 2022 common and preferred stock dividends. Common Stock Dividend The Board declared a quarterly dividend of $0.25 per share of common stock for the first quarter 2022. The first quarter common stock dividend is payable on April 29, 2022 to shareholders of record on April 4, 2022. Preferred Stock Dividends In accordance with the terms of New Residential's 7.50% Series A Cumulative Redeemable Preferred Stock ("Series A"), the Board declared a Series A dividend for the first quarter 2022 of $0.4687500 per share. In accordance
Newrez LLC ("Newrez"), a national mortgage lending and servicing organization with a loan count of approximately 2.3 million, and Planck, LLC, d/b/a Patch Media ("Patch"), the local digital media company with over 1,200 communities across the United States, announced today an exclusive, multi-year partnership to launch a co-branded homebuying mortgage resource hub. The hub will serve as a digital depot of helpful news and resources for anyone going through the homebuying or refinancing process. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220303005036/en/ Hosted on the Patch platform, the mortgage hub positions Newrez as a nati
Addition of Patrice M. Le Melle to the Board of Directors adds further depth to the Board's government, corporate governance, and data & privacy experience Ms. Le Melle will be a member of the Board's Nominating and Corporate Governance Committee New Residential Investment Corp. (NYSE:NRZ, "New Residential" or the "Company"))) announced today that the Board of Directors of the Company (the "Board") has elected Patrice M. Le Melle, Associate General Counsel at Columbia University, as an independent member of the Board, effective as of November 8, 2021. With the addition of Ms. Le Melle, New Residential's Board will consist of eight members. "We are extremely excited to welcome Patrice
Urban Edge Properties (NYSE:UE) today announced the appointment of Susan Givens to the Company's Board of Trustees effective July 1, 2021. With this appointment, Urban Edge's Board of Trustees has increased from eight members to nine. Ms. Givens has nearly 20 years of private equity, capital markets, M&A, and finance experience. Since October 2014, she has served as Chief Executive Officer and President of New Senior Investment Group Inc. (NYSE:SNR). Prior to that, Ms. Givens was a Managing Director in the Private Equity group at Fortress Investment Group, where she spent more than 13 years. While at Fortress she also served as the Chief Financial Officer and Treasurer of New Residential I
NewRez LLC ("NewRez", the "Company"), a national mortgage lending and servicing organization, announced today that Rajinder Singh has joined its executive team as Chief Risk Officer, effective immediately. As Chief Risk Officer, Mr. Singh will oversee all aspects of risk, including the development and implementation of scalable infrastructure, analytics, processes, and systems for enterprise-wide risk management. This elevated, executive position reflects NewRez's objective to further emphasize risk management throughout the entire organization. "Raj brings a wealth of experience in risk, audit, management, and process improvement to NewRez," said Baron Silverstein, President of NewRez. "
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New Residential Inv (NYSE:NRZ) reported its Q2 earnings results on Tuesday, August 2, 2022 at 06:30 AM. Here's what investors need to know about the announcement. Earnings New Residential Inv reported in-line EPS of $0.31 versus an estimate of $0.31. Revenue was up $64.51 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.02 which was followed by a 1.82% increase in the share price the next day. Here's a look at New Residential Inv's past performance: Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021 EPS Estimate 0.35 0.4 0.35 0.31 EPS Actual 0.37 0.4 0.44 0.31
New Residential Inv (NYSE:NRZ) reported quarterly earnings of $0.31 per share which met the analyst consensus estimate. This is unchanged from the same period last year.
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What is a Value Stock? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. Benzinga Insights has compiled a list of value stocks in the real estate sector that may be worth watching: New Residential Inv (NYSE:NRZ) - P/E: 4.89 NexPoint Real Estate (NYSE:NREF) - P/E: 6.06 Nam Tai Property (NYSE:NTP) - P/E: 3.4 Alexander's (NYSE:ALX) - P/E: 9.81 Apartment
Between June 10 and 17, 11 publicly traded mortgage companies saw their market value decline by a combined $6.14 billion. According to a HousingWire examination of stock data, corporate valuations were reduced 17.4% to $29 billion as investors abandoned the sector. The list of those businesses is below: Finance of America Companies Inc (NYSE:FOA) Flagstar Bancorp Inc (NYSE:FBC) Home Point Capital Inc (NASDAQ:HMPT) LoanDepot (NYSE:LDI) Mr Cooper Group Inc (NASDAQ:COOP) New Residential Investment Corp. (NYSE:NRZ) Ocwen Financial Corporation (NYSE:OCN) PennyMac Financial Services Inc (NYSE:PFSI) Rocket Companies Inc (NYSE:RKT) UWM Holdings Corp (NYSE:UWMC) What Happened: According to data fro
The real estate investment trust benchmark ETF, the Real Estate Select Sector SPDR, ended the day down just a little, but some REITS had a very good day. Independence Realty Trust Inc (NYSE:IRT) gained by 2.65%, leading the sector with that substantial percentage move: Price chart analysts will notice that today's candlestick is a “bullish engulfing.” It went lower than Friday’s low and then closed above Friday’s high. There was no news on the REIT, which owns rental properties nationwide and continues to pay a slightly lower-than-the-sector dividend of 2.69%. More on Real Estate Investments: This REIT You've Probably Never Heard of Has Paid a Dividend Above 8% For The Last 5 Years
What are Value Stocks? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the real estate sector: Forestar Group (NYSE:FOR) - P/E: 4.64 Seven Hills Realty Trust (NASDAQ:SEVN) - P/E: 3.66 New Residential Inv (NYSE:NRZ) - P/E: 4.4 Redwood Trust (NYSE:RWT) - P/E: 4.02 Weyerhaeuser (NYSE:WY
Upgrades For Western Asset Mortgage Capital Corp (NYSE:WMC), JonesTrading upgraded the previous rating of Hold to Buy. In the first quarter, Western Asset Mortgage showed an EPS of $0.01, compared to $0.10 from the year-ago quarter. The current stock performance of Western Asset Mortgage shows a 52-week-high of $4.19 and a 52-week-low of $1.10. Moreover, at the end of the last trading period, the closing price was at $1.27. Noble Capital Markets upgraded the previous rating for Comtech Telecommunications Corp (NASDAQ:CMTL) from Market Perform to Outperform. In the third quarter, Comtech Telecom showed an EPS of $0.06, compared to $0.26 from the year-ago quarter. The stock has a 52-week-hi