Seeking Alpha

New Residential with first post-spinoff earnings report

  • New Residential (NRZ): Q2 core earnings of $0.15 in its initial quarterly report following the May 15 spinoff from Newcastle Investments (NCT).
  • Book value of $4.92 per share vs $3.03 at Q1's end.
  • Consumer loan book is now expected to provide unlevered returns of 14% vs. earlier 12% target. Charge-off rate and prepayment rate are outperforming expectations.
  • Earnings call at 9:30 ET. (PR)
  • Earlier: Newcastle earnings.
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