New Residential Investment Corp Stock Research

NRZ Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

NRZ Stock Price

NRZ RSI Chart

NRZ Valuation

Market Cap

4.3B

Price/Earnings (Trailing)

4.38

Price/Sales (Trailing)

0.91

EV/EBITDA

1.49

Price/Free Cashflow

0.63

NRZ Price/Sales (Trailing)

NRZ Profitability

EBT Margin

26.72%

Return on Equity

14.16%

Return on Assets

3.03%

Free Cashflow Yield

159.46%

NRZ Fundamentals

NRZ Revenue

Revenue (TTM)

4.7B

Revenue Y/Y

-30.54%

Revenue Q/Q

-16.48%

NRZ Earnings

Earnings (TTM)

983.3M

Earnings Y/Y

-43.66%

Earnings Q/Q

-31.36%

Price Action

Last 7 days

5.4%

Last 30 days

14.0%

Last 90 days

-3.0%

Trailing 12 Months

22.7%

NRZ Financial Health

Debt/Equity

3.42

Debt/Cashflow

0.43

NRZ Investor Care

Dividend Yield

10.99%

Dividend/Share (TTM)

Shares Dilution (1Y)

1.49%

Diluted EPS (TTM)

1.8

Peers (Alternatives to New Residential Investment)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AXP	119.4B	43.0B	-11.87%	-8.27%	15.89	2.78	24.07%	-6.77%
SCHW	109.2B	20.8B	-25.95%	-27.75%	15.21	5.26	12.11%	22.68%
GS	105.5B	39.7B	-16.53%	-3.22%	9.37	2.66	-24.93%	-47.95%
BLK	95.4B	17.9B	-14.27%	-10.09%	18.42	5.34	-7.75%	-12.25%
MID-CAP
NLY	8.8B	2.8B	-14.82%	-26.28%	5.12	3.18	40.13%	-27.81%
AGNC	5.7B	1.6B	-13.55%	-16.26%	-4.81	3.6	16.83%	-258.88%
STWD	5.4B	1.5B	-14.44%	-21.11%	6.16	3.67	25.18%	94.64%
NRZ	4.3B	4.7B	14.03%	22.72%	4.38	0.91	30.51%	22.06%
NYMT	3.6B	258.4M	203.99%	176.76%	-11.9	13.75	24.91%	-254.56%
BXMT	3.1B	1.3B	-21.12%	-38.43%	12.46	2.31	56.66%	-40.69%
HASI	2.2B	239.7M	-27.22%	-40.85%	52.33	9.06	12.46%	-67.21%
SMALL-CAP
PMT	1.1B	909.6M	-17.87%	-18.56%	-14.65	1.18	52.78%	-228.90%
MFA	954.9M	482.4M	-16.25%	-37.64%	-4.12	1.98	33.15%	-170.42%
BRMK	593.7M	106.1M	3.71%	-40.45%	-5.1	5.6	-12.00%	-241.10%
IVR	433.6M	194.5M	-20.29%	-40.32%	-1.08	2.23	14.96%	-347.69%

Financials for New Residential Investment

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-6.6%	4,727	5,062	5,102	4,206	3,622
Operating Expenses	-6.1%	3,344	3,563	3,555	2,916	2,617
S&GA Expenses	-10.3%	875	976	999	946	864
EBITDA	-0.3%	1,997	2,002	1,970	1,984	-
EBITDA Margin	6.8%	0.42*	0.40*	0.39*	0.48*	-
Earnings Before Taxes	-9.3%	1,263	1,392	1,418	1,457	964
EBT Margin	-2.9%	0.27*	0.28*	0.28*	0.35*	-
Interest Expenses	20.4%	734	610	551	510	506
Net Income	-7.7%	983	1,065	1,082	1,194	806
Net Income Margin	-1.2%	0.21*	0.21*	0.21*	0.29*	-
Free Cahsflow	-33.3%	6,874	10,302	9,246	7,269	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-8.1%	32,479	35,335	34,554	37,869	39,742
Cash Equivalents	-5.9%	1,337	1,420	1,511	1,671	1,333
Net PPE	-13.5%	45.00	52.00	57.00	-	-
Goodwill	0%	85.00	85.00	85.00	-	-
Liabilities	-9.9%	25,469	28,273	27,491	30,684	33,073
Long Term Debt	-12.0%	23,890	27,137	29,823	-	-
Shareholder's Equity	-0.7%	6,943	6,991	7,063	7,185	6,604
Retained Earnings	-9.6%	-418	-381	-387	-267	-813
Additional Paid-In Capital	0.0%	6,062	6,061	6,061	6,060	6,060
Shares Outstanding	0%	474	474	467	467	467
Minority Interest	-5.6%	67.00	71.00	69.00	62.00	65.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-33.3%	6,874	10,302	9,254	7,269	2,884
Share Based Compensation	-17.1%	1.00	1.00	-	-	-
Cashflow From Investing	114.6%	198	-1,355	5,146	2,368	2,306
Cashflow From Financing	18.4%	-6,983	-8,558	-13,649	-8,846	-4,742
Dividend Payments	6.9%	491	460	410	376	-
Buy Backs	2.8%	5.00	5.00	8.00	15.00	0.00

Risks for NRZ

What is the probability of a big loss on NRZ?

49.2%

Probability that New Residential Investment stock will be more than 20% underwater in next one year

29.6%

Probability that New Residential Investment stock will be more than 30% underwater in next one year.

20.4%

Probability that New Residential Investment stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NRZ drawdown profile look like?

Y-axis is the maximum loss one would have experienced if New Residential Investment was unfortunately bought at previous high price.

Drawdowns

Returns for NRZ

Cumulative Returns on NRZ

5.8%

7-Year Cumulative Returns

1.0%

5-Year Cumulative Returns

-2.9%

3-Year Cumulative Returns

What are the long-term rolling returns for NRZ?

FIve years rolling returns for New Residential Investment.

Annualized Returns

Which funds bought or sold NRZ recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-2.53	35,294	335,294	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	35.22	361,795	1,072,800	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-2.76	22,000	285,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	634	1,634	-%
2023-02-28	Voya Investment Management LLC	reduced	-30.51	-533,366	1,843,630	-%
2023-02-28	Trust Investment Advisors	reduced	-18.39	-61,121	620,879	0.59%
2023-02-27	CASCADE INVESTMENT GROUP, INC.	new	-	161,276	161,276	0.17%
2023-02-22	Kovack Advisors, Inc.	added	4.65	64,064	445,064	0.06%
2023-02-21	MACQUARIE GROUP LTD	reduced	-45.71	-772,000	1,096,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	63.03	5,680	12,680	-%

Latest Funds Activity

Are funds buying NRZ calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NRZ

No. of Funds

New Residential Investment News

Schedule 13G FIlings of New Residential Investment

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	canyon capital advisors llc	5.12%	25,585,016	SC 13G
Feb 09, 2023	vanguard group inc	9.44%	44,733,562	SC 13G/A
Jul 08, 2022	blackrock inc.	4.9%	22,949,117	SC 13G
Feb 14, 2022	canyon capital advisors llc	4.87%	23,899,341	SC 13G/A
Feb 11, 2022	fortress investment group llc	7.5%	37,956,972	SC 13G/A
Feb 03, 2022	blackrock inc.	5.9%	27,648,485	SC 13G/A
Feb 16, 2021	canyon capital advisors llc	5.87%	25,750,039	SC 13G
Feb 12, 2021	fortress investment group llc	7.3%	32,662,994	SC 13G
Feb 10, 2021	vanguard group inc	8.70%	36,175,462	SC 13G/A
Jan 29, 2021	blackrock inc.	6.6%	27,382,429	SC 13G/A

NRZ Fair Value

New Residential Investment fair value in different scenarios

The table shows the Fair Value estimates for New Residential Investment for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	51.00 -	75.78 -	140.94 -	248.95 -	305.01 -
Current Inflation	46.50 -	67.81 -	123.24 -	214.02 -	260.84 -
Very High Inflation	40.97 -	58.25 -	102.51 -	173.84 -	210.31 -

Historical New Residential Investment Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of New Residential Investment

View All Filings

Date Filed	Form Type	Document
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 17, 2023	10-K	Annual Report
Feb 17, 2023	S-8	Employee Benefits Plan
Feb 14, 2023	SC 13G	Major Ownership Report
Feb 10, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	8-K	Current Report
Jan 04, 2023	4	Insider Trading

Latest Insider Trading transactions for NRZ

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-06-30	Finnerty Kevin J	acquired	-	-	8,048	-
2022-06-30	Sloves Andrew	acquired	-	-	8,048	-
2022-05-27	Saltzman David	acquired	-	-	8,874	-
2022-05-27	LENEHAN PAMELA F	acquired	-	-	9,761	-
2022-05-27	Le Melle Patrice M	acquired	-	-	8,874	-
2022-05-27	Finnerty Kevin J	acquired	-	-	8,874	-
2022-05-27	MCGINNIS ROBERT	acquired	-	-	8,874	-
2022-05-27	Sloves Andrew	acquired	-	-	8,874	-
2022-01-04	MCGINNIS ROBERT	acquired	-	-	9,116	-
2022-01-04	LENEHAN PAMELA F	acquired	-	-	10,028	-

About New Residential Investment

NRZ Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$ 1,831,964	$ 1,559,554	$ 1,642,272
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(631,120), $(1,192,646) and $(1,583,628), respectively)	732,750	(575,353)	(2,168,909)
Servicing revenue, net	2,564,714	984,201	(526,637)
Interest income	1,075,981	810,896	794,965
Gain on originated residential mortgage loans, held-for-sale, net	1,086,232	1,826,909	1,399,092
Total revenues	4,726,927	3,622,006	1,667,420
Expenses
Interest expense and warehouse line fees	791,001	497,308	584,469
General and administrative	875,428	864,028	548,441
Compensation and benefits	1,231,446	1,159,810	571,646
Management fee to affiliate	46,174	95,926	89,134
Termination fee to affiliate	400,000	0	0
Total operating expenses	3,344,049	2,617,072	1,793,690
Other income (loss)
Change in fair value of investments, net	1,108,290	11,723	(148,758)
Gain (loss) on settlement of investments, net	(1,359,679)	(234,561)	(930,131)
Other income (loss), net	131,312	181,712	(135,609)
Total other income (loss)	(120,077)	(41,126)	(1,214,498)
Income (loss) before income taxes	1,262,801	963,808	(1,340,768)
Income tax expense	279,516	158,226	16,916
Net income (loss)	983,285	805,582	(1,357,684)
Noncontrolling interests in income of consolidated subsidiaries	28,766	33,356	52,674
Dividends on preferred stock	89,726	66,744	54,295
Net income (loss) attributable to common stockholders - basic	864,793	705,482	(1,464,653)
Net income (loss) attributable to common stockholders - diluted	$ 864,793	$ 705,482	$ (1,464,653)
Net income (loss) per share of common stock
Basic (in dollars per share)	$ 1.84	$ 1.56	$ (3.52)
Diluted (in dollars per share)	$ 1.80	$ 1.51	$ (3.52)
Weighted average number of shares of common stock outstanding
Basic (in shares)	468,836,718	451,276,742	415,513,187
Diluted (in shares)	481,636,125	467,665,006	415,513,187
Dividends declared per share of common stock (in dollars per share)	$ 1.00	$ 0.90	$ 0.50

NRZ Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Assets

Mortgage servicing rights and mortgage servicing rights financing receivables, at fair value

^[1]

$ 8,889,403

$ 6,858,803

Real estate and other securities

8,289,277

9,396,539

Residential loans and variable interest entity consumer loans, held-for-investment, at fair value

^[1]

816,275

1,077,224

Residential mortgage loans, held-for-sale ($3,297,271 and $11,214,924 at fair value, respectively)

3,398,298

11,347,845

Single-family rental properties, held-for-investment

971,313

579,607

Mortgage loans receivable, at fair value

2,064,028

1,515,762

Residential mortgage loans subject to repurchase

^[2]

1,219,890

1,787,314

Cash and cash equivalents

^[1]

1,336,508

1,332,575

Restricted cash

^[1]

281,126

195,867

Servicer advances receivable

2,825,485

2,855,148

Receivable for investments sold

473,126

Other assets

^[1]

1,914,607

2,795,506

Total assets

32,479,336

39,742,190

Liabilities

Secured financing agreements

^[1]

11,257,736

20,592,884

Secured notes and bonds payable ($632,404 and $511,107 at fair value, respectively)

^[1]

10,098,943

8,644,810

Residential mortgage loan repurchase liability

^[2]

1,219,890

1,787,314

Unsecured senior notes, net of issuance costs

545,056

543,293

Payable for investments purchased

731,216

Due to affiliates

17,819

Dividends payable

129,760

127,922

Accrued expenses and other liabilities

^[1]

1,486,667

1,358,768

Total liabilities

25,469,268

33,072,810

Commitments and Contingencies

Equity

Preferred stock, $0.01 par value, 100,000,000 shares authorized, 51,964,122 and 52,210,000 issued and outstanding, $1,299,104 and $1,305,250 aggregate liquidation preference, respectively

1,257,254

1,262,481

Common stock, $0.01 par value, 2,000,000,000 shares authorized, 473,715,100 and 466,758,266 issued and outstanding, respectively

4,739

4,669

Additional paid-in capital

6,062,019

6,059,671

Retained earnings (accumulated deficit)

(418,662)

(813,042)

Accumulated other comprehensive income (loss)

37,651

90,253

Total Rithm Capital stockholders’ equity

6,943,001

6,604,032

Noncontrolling interests in equity of consolidated subsidiaries

67,067

65,348

Total Equity

7,010,068

6,669,380

Liabilities and Equity

$ 32,479,336

$ 39,742,190

[1]

The Company's Consolidated Balance Sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations and liabilities of the VIE for which creditors do not have recourse to the primary beneficiary (Rithm Capital). As of December 31, 2022, and December 31, 2021, total assets of consolidated VIEs were $2.3 billion and $2.8 billion, respectively, and total liabilities of consolidated VIEs were $1.8 billion and $2.1 billion, respectively. See Note 21 for further details.

[2]

See Note 6 for details.