New Residential Investment: 2Q Earnings Snapshot
NEW YORK (AP) _ New Residential Investment Corp. (NRZ) on Tuesday reported a second-quarter loss of $31.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 8 cents. Earnings, adjusted for non-recurring costs, were 53 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The real estate investment trust posted revenue of $416 million in the period. Its adjusted revenue was $188 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $240.3 million.
New Residential Investment shares have climbed slightly more than 9% since the beginning of the year. The stock has dropped 13% in the last 12 months.