New Residential Investment posts 4Q profit
NEW YORK (AP) — New Residential Investment Corp. on Tuesday reported fourth-quarter profit of $225.2 million.
The New York-based company said it had net income of 90 cents per share. Earnings, adjusted for non-recurring gains, were 62 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The real estate investment trust posted revenue of $326.8 million in the period. Its adjusted revenue was $231.8 million.
For the year, the company reported profit of $504.5 million, or $2.12 per share. Revenue was reported as $703.3 million.
New Residential Investment shares have climbed almost 3 percent since the beginning of the year. The stock has risen 49 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NRZ at https://www.zacks.com/ap/NRZ
Keywords: New Residential Investment, Earnings Report