Analysts expect New Residential Investment Corp (NYSE:NRZ) to report sales of $212.58 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for New Residential Investment’s earnings, with the highest sales estimate coming in at $257.10 million and the lowest estimate coming in at $145.64 million. New Residential Investment reported sales of $259.19 million in the same quarter last year, which indicates a negative year over year growth rate of 18%. The firm is expected to issue its next earnings report on Friday, April 26th.
According to Zacks, analysts expect that New Residential Investment will report full year sales of $865.42 million for the current fiscal year, with estimates ranging from $578.05 million to $1.03 billion. For the next year, analysts anticipate that the firm will report sales of $810.91 million, with estimates ranging from $532.81 million to $1.09 billion. 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 data on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $210.42 million. New Residential Investment had a return on equity of 14.06% and a net margin of 57.58%. During the same quarter last year, the business earned $0.61 EPS.
Shares of NRZ traded down $0.62 during trading hours on Friday, hitting $16.40. 36,022,720 shares of the company were exchanged, compared to its average volume of 3,034,251. The firm has a market cap of $5.61 billion, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 7.39 and a beta of 1.10. New Residential Investment has a fifty-two week low of $13.86 and a fifty-two week high of $18.75.
The company also recently announced a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Monday, December 31st were given a $0.50 dividend. The ex-dividend date was Friday, December 28th. This represents a $2.00 annualized dividend and a yield of 12.20%. New Residential Investment’s dividend payout ratio is presently 84.03%.
Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of New Residential Investment during the second quarter valued at approximately $226,000. State of Alaska Department of Revenue raised its stake in New Residential Investment by 45.4% in the third quarter. State of Alaska Department of Revenue now owns 53,041 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 16,561 shares in the last quarter. Bank of Montreal Can raised its stake in New Residential Investment by 50.8% in the third quarter. Bank of Montreal Can now owns 1,741,200 shares of the real estate investment trust’s stock worth $31,028,000 after buying an additional 586,919 shares in the last quarter. First Hawaiian Bank bought a new position in New Residential Investment in the third quarter worth approximately $367,000. Finally, Nisa Investment Advisors LLC raised its stake in New Residential Investment by 368.5% in the third quarter. Nisa Investment Advisors LLC now owns 125,556 shares of the real estate investment trust’s stock worth $2,237,000 after buying an additional 98,756 shares in the last quarter. Institutional investors own 54.30% of the company’s stock.
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 Related Assets, Residential Securities and Loans, and Other Investments 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.
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.