Shares of New Residential Inv (NYSE:NRZ) moved higher by 1.0% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share decreased 29.17% year over year to $0.34, which were in line with the estimate of $0.34.
Revenue of $134,830,000 declined by 27.32% year over year, which missed the estimate of $242,490,000.
Guidance
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.
Details Of The Call
Date: May 05, 2021
Time: 08:00 AM
ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/nrz/mediaframe/44849/indexr.html
Technicals
52-week high: $11.47
Company’s 52-week low was at $5.30
Price action over last quarter: Up 8.95%
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.
