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Shares of New Residential Investment (NYSE:NRZ) moved lower by 2.6% in pre-market trading after the company reported Q3 results.
Earnings per share were down 38.00% over the past year to $0.31, which missed the estimate of $0.38.
Revenue of $103,320,000 declined by 48.91% year over year, which missed the estimate of $661,320,000.
Earnings guidance hasn't been issued by the company for now.
New Residential Inv hasn't issued any revenue guidance for the time being.
Details Of The Call
Date: Oct 26, 2020
Time: 08:00 AM
52-week high: $17.66
Company's 52-week low was at $2.91
Price action over last quarter: Up 14.74%
New Residential Investment Corp is a real estate investment trust that invests and manages investments related to residential real estate in the United States. The company's asset portfolio is mainly comprised of servicing-related assets and residential securities and loans. The vast majority of the cumulative outstanding face value of New Residential's portfolio is made up of excess mortgage servicing rights, or MSRs. The company collects interest income from these when the fee paid for an MSR exceeds the basic amount. Mortgage servicer advances, or loans extended to cover payments missed by homeowners, represent the majority of the carrying value of New Residential's investment portfolio. Most of these securities have short- to medium-term lifespans.
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