New Residential Investment Corp. (NRZ) Company Bio
New Residential Investment Corporation focuses on investing in and managing residential mortgage related assets. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company was founded in 2011 and is based in New York, New York.
The first quarter was one of the toughest ever for mortgage real estate investment trusts (mREITs). Mortgage-backed securities, even government-insured ones, fell like a tech stock after a bad earnings report. The non-agency REITs suffered the worst.
New Residential Investment (NRZ) delivered earnings and revenue surprises of 100.00% and -13.90%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?