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New Residential tops estimates and payout

Published 04/27/2018, 07:16 AM
© Reuters.  New Residential tops estimates and payout
RITM
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  • Q1 core earnings of $195M or $0.58 per share vs. $154M and $0.61 a year ago. Estimates were for $0.55. Dividend is $0.50.
  • Thus far in 2018, company has acquired or agreed to acquire MSR's totaling about $38B in UPB for a purchase price of $364M. To raise liquidity, company priced two fixed rate MSR notes totaling $930M, with average cost of funds of roughly 3.6%.
  • Company executed clean-up calls on 32 seasoned non-agency RMBS deals with total UPB of about $500M; purchased $695M of face-value of non-agency RMBS, brining net equity to about $1.4B.
  • Conference call at 8 ET
  • Previously: New Residential Investment beats by $0.03 (April 27)
  • NRZ flat premarket
  • Now read: I Am Buying The Drop Of This 11.9% Top-Notch Mortgage REIT


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