New Residential Investment: Q2 Earnings Insights

Shares of New Residential Investment Corp NRZ rose 1.0% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 35.85% over the past year to $0.34, which beat the estimate of $0.31.

Revenue of $115,795,000 decreased by 38.42% from the same period last year, which beat the estimate of $111,130,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Jul 22, 2020

Time: 08:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/nrz/mediaframe/39483/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 30.44%

Company Profile

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.