NRZ - New Residential Increases Its Bets on Servicing and Non-Guaranteed Loans
New Residential Investment Corp. (NYSE: NRZ) reported core earnings per share of $0.61 for the fourth quarter of 2019, easily surpassing analyst expectations of $0.52 a share.
For the year, New Residential earned $2.17 per share, compared to $2.38 a year ago. Book value for the year fell slightly from $16.25 to $16.21 and the company paid $2.00 in dividends, which works out to be a 11.6% dividend yield based on a closing price of $17.24 a share.
Mortgage origination rose to $10.6 billion in unpaid principal balance in the fourth quarter, which is up 85% from the third quarter and 412% on a year-over-year basis.