That doesn't sound like a Plausible excuse for CMO. Their annualized CPR was almost 23%, which is extremely high and their B/V dropped by 1.4%. More likely they had a few negative metrics that affected their earnings. Mortgage rates from Jan-march were down "slightly" and from April till current have been trending upwards. With NRZ being mostly a servicor of mortgages the upward trend of rates works in their favor with reduced pre payments.
New Senior Investment Group Inc. (NYSE: SNR) will also see a ton of stock be bought on the close Friday. The Jefferies team expects that Russell Index buyers will purchase a total of 1,468,395 shares of the stock. That will represent a 78% increase over the average ten day trading volume. The company is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties across the United States. As of March 31, 2015, they are one of the largest publicly-traded owners of senior housing properties, owning 121 properties across 31 states. The shares closed Tuesday at $12.66.
They also predict NRZ to have a high volume positive buy day.
here's Jefferies notes:
New Residential Investment Corp. (NYSE: NRZ) will likely have a load of stock hit the tape on Friday. The Jefferies team estimates a gigantic order of 2,298,478 shares will be bought. What stands out here is that this is a 155% increase in the ten day average trading volume. The company is a real estate investment trust (REIT) that focuses on investing in and managing residential mortgage related assets. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The stock closed Tuesday at $15.38.
You got it chino. Mgmt. stated in the last CC that for every 1% raise in interest rates their portfolio value would increase by, I think, 100 million dollars. That might not be the definite number but I know it was HUGE. They have no fear for their business in a rising rate environment as they only service most of their mortgages, which is not interest rate sensitive. Mortgagees will not refinance with higher rates, only lower, which is the main scenario that would affect NRZ. It ain't gonna happen.
BAC came out with numbers at 7:44 this morning. The release, on the Forbes website cited everything gambler stated in his earlier post. Beat .45 vs. expected .36. Good guess by gambler?????
I owned ORC about a year ago but jumped ship when I found out management had significant ties to Bimini Capital, a group convicted of fraud and manipulation many years ago.
Come on buddy, you could have posted it here: LOL: Two open market buys and one acquisition.
CHENG JUSTINE Officer 06/29/2015 Buy direct 14,545 13.7500 14,545
EDENS WESLEY R Director 06/29/2015 Acquisition (Non Open Market) indirect 72,727 13.7500 245,575
GIVENS SUSAN Officer 06/29/2015 Buy direct 14,545 13.7500 14,545
FIG loves to include all their companies in a multitude of deals. NRZ has grown to be near the top in the MSR sector by doing deals with FIG companies NSM and Silverleaf. and more will be forthcoming as OCN comes into the fold. They have been very transparent in their "inter-company" dealings and so far they've all worked out well for management AND share holders. I have no idea how long you've held SNR shares but if you did proper DD on FIG you'd have seen their dealings within the company and the partnerships between them. Their next possible move may be to unite the FIG property holdings in their ski resorts and the NCT holdings in the golf courses into another REIT. Again, inter company dealings which benefit FIG AND share holders. I have no complaints as long as I get mine.
Why does everyone automatically label a secondary "dilution". Do they think that the capital raise won't be invested in acreative properties. Isn't the history of management enough proof that these guys know what they're doing to build the business? Sure, listen to the nutcase bashers that don't even understand nor invest in the company. Just here to amuse themselves at others expense. I'm confident, based on past capital raises in all their divisions that every $ they raise will be put to work for shareholder's benefit.