Boston, MA 05/05/2014 (wallstreetpr) – New Residential Investment Corp (NYSE:NRZ) has reported its 4Q2013 results and recently offered dividend to the shareholders.
New Residential financial results
New Residential has announced 4Q2013 and full-year 2013 financial results. The GAAP Income of the company is $80.5 million, earnings per share are $0.31 per diluted share. The core earnings are at $36.8 million (which converts to $0.14 per diluted share).
Dividend
The company also declared a dividend of $0.175 four common shares for 4Q2013. The dividend will be paid is on April 30, 2014. The total dividend to be paid is $63.3 million.
Closure of public offerings
New Residential has closed public offering of common stocks. The offer also had the option to purchase additional shares. In the public offering, the company sold 28,750 K common shares. About 3,750K of the shares were available under purchase of additional shares. The total money earned from this exercise is $175.4 million. The proceeds from the sale will be used for general corporate purposes and possible investments.
Future
New Residential stock is doing well in the market. There is a positive trend that can be seen in the earning’s estimate revisions. With continuous positive earnings estimate and better financial results, shares of New Residential Investment Corp (NYSE:NRZ)are good for the investors.
Highlights
During 4Q2013, the company invested $23 million for funding excess MSRs. During the same time, the company bought a non-performing loan pool by paying is $93 million. This helped in further diversification of the investment portfolio.
Acquisition of mortgage loans from Springleaf
New Residential will acquire interests and pool of $900 million mortgage loans. It will purchase the interest in this poll from Springleaf. New Residential Investment Corp (NYSE:NRZ) expects to complete the procedure within first few months of 2014.
