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NEW YORK--(BUSINESS WIRE)--New Residential Investment Corp. Schedules Second Quarter 2022 Earnings Release & Conference Call - Aug 2, 2022 New ticker RITM effective Aug 2, 2022
New Residential Investment (NRZ) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
The sector climbed significantly on Tuesday, but one stood above the rest. Management internalization may have been a factor, but commentary about current book value per share was probably a big boost.
New Residential has suffered, like many other mortgage REITs. Less refinancing activity is positive for its MSR portfolio, though. Management internalization is also a good thing, with a compelling cash-on-cash return.
New Residential's stock discount to book value has widened to an insane 31%. New Residential just announced its internationalization which could lead to higher earnings moving forward.
Investors need to pay close attention to New Residential Investment (NRZ) stock based on the movements in the options market lately.
Stocks are still getting cheaper, but the fact is there are some cheap stocks out there that are doing well and are still bargains. The post 7 Cheap Stocks to Buy for June 2022 appeared first on InvestorPlace.
The yield curve has briefly inverted in April 2022, and the spread between 10-year and 2-year treasury rates jittered below 0% briefly. Such inversion has historically been the leading signal for a turbulent equity market, especially in the mREITs sector.
Not all mortgage companies had a bad quarter.
New Residential out-earned its dividend again by a high margin in 1Q-22. The trust's book value was up 9.8% to $12.56 per share.