New Residential Investment: Q4 Earnings Insights
Shares of New Residential Inv (NYSE:NRZ) fell 0.5% in pre-market trading after the company reported Q4 results.
Quarterly Results
Earnings per share fell 47.54% year over year to $0.32, which missed the estimate of $0.33.
Revenue of $113,435,000 decreased by 47.50% year over year, which missed the estimate of $234,150,000.
Looking Ahead
New Residential Inv hasn't issued any earnings guidance for the time being.
New Residential Inv hasn't issued any revenue guidance for the time being.
Conference Call Details
Date: Feb 09, 2021
Time: 08:00 AM
ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/nrz/mediaframe/43074/indexr.html
Price Action
Company's 52-week high was at $17.66
Company's 52-week low was at $2.91
Price action over last quarter: Up 30.14%
Company Description
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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