NRZ News and Press, New Residential Investment Corp. From 09/28/21

This article compares NLY’s recent dividend per share rates, yield percentages, and several dividend sustainability metrics to 19 mREIT peers. This includes an analysis of NLY’s quarterly estimated REIT taxable income, estimated core earnings, and normalized core earning...

We take a look at the action in preferreds and baby bonds through the third week of September and highlight some of the key themes we are watching. The preferreds market has seen a significant step down in returns despite a supportive macro backdrop due to tight credit spreads, low ri...

BDCs continue to easily outperform with only a handful of REITs providing investors with annualized returns of over 10% since 2019. Most mortgage REITs and many of the equity REITs have had negative stock price performance over the last 21 months. For the same amount of income wit...

U.S. equity markets staged a late-week rally to end a turbulent week with gains as concerns over instability in Chinese markets were offset by signs of resilient strength across US housing markets. Snapping a skid in which the benchmark average declined in 10-of-12 trading s...

New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced today that its Board of Directors (the “Board”) has declared third quarter 2021 preferred stock dividends. In accordance with the terms of New Residen...

U.S. equity markets remained under pressure this week amid concerns over tax hike proposals and the looming fiscal cliff while fresh data showed that soaring prices have sent consumer confidence plunging. Declining in eight of the past ten trading sessions and dipping below its 5...

Finding value when the stock market is setting new records tends to be difficult. Investors have to be careful that they are not buying stocks as earnings are peaking. This is often the difference between a value stock and a value trap. Sometimes a stock is cheap because the market is givin...

In hindsight, investors clearly underestimated the risk within the New Residential model several years ago. Today, those risks look more priced in given how the stock trades. That said, the Caliber acquisition (which does not get talked about enough) offsets a lot of these risks g...

NRZ raised their dividend by 25% with the acquisition of Caliber. The price roared higher as investors caught on. Price-to-book ratios on TWO and CHMI are still higher than for NRZ and PMT. That’s funny because it shouldn’t be that way. Rates for refinancing are quit...

Many asked me to write on New Residential prior to the pandemic. But I (happily) avoided the mREIT due to its complexity risk. Last year, NRZ said it might be spinning out the company as a separate listing. Today, it’s looking at much more attractive catalysts to accelerate...