Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

New Residential Investment Corp. : Announces Pricing of Public Offering of Preferred Stock

09/14/2021 | 04:18pm EDT

New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced that it priced an opportunistic underwritten public offering of 17,000,000 shares of its 7% Series D Fixed-Rate Reset Cumulative Redeemable Preferred Stock (the “Preferred Stock”) with a liquidation preference of $25.00 per share, for gross proceeds of approximately $425 million, before deducting underwriting discount and other estimated offering expenses. The Company intends to apply to list the Preferred Stock on the New York Stock Exchange under the symbol “NRZ PR D.” The offering is expected to close on September 17, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 2,550,000 shares of the Preferred Stock.

The Company intends to use the net proceeds from this offering for investments and general corporate purposes.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, A Stifel Company, BTIG, LLC, Citigroup Global Markets Inc. and Raymond James & Associates, Inc. are acting as joint bookrunners for the offering.

The offering is being made pursuant to the Company’s effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 1585 Broadway, 29th Floor, New York, New York 10036, email: prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 100179, Attention: Investment Grade Syndicate Desk, Tel. 212-834-4533; RBC Capital Markets, LLC, Attention: DCM Transaction Management, Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York 10281, email: rbcnyfixedincomeprospectus@rbccm.com; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019; Wells Fargo Securities, LLC, 608 2nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service, email: wfscustomerservice@wellsfargo.com or by calling toll-free at 1-800-645-3751; Keefe, Bruyette & Woods, A Stifel Company, 787 Seventh Avenue, Fourth Floor, New York, NY 10019, by e-mail at USCapitalMarkets@kbw.com, by fax at 212-581-1592, or by calling 1-800-966-1559; BTIG, LLC, 65 East 55th Street, New York, NY, 10022, by email at ProspectusDelivery@btig.com; Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-800-831-9146 or email: prospectus@citi.com ; or Raymond James & Associates, Inc, 880 Carillon Parkway, St. Petersburg, FL 33716, telephone (800) 248-8863, email: prospectus@raymondjames.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of the Preferred Stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.


New Residential is a leading provider of capital and services to the mortgage and financial services industry. The Company’s mission is to generate attractive risk-adjusted returns in all interest rate environments through a portfolio of investments and operating businesses. New Residential has built a diversified, hard-to-replicate portfolio with high-quality investment strategies that have generated returns across different interest rate environments over time. New Residential’s investment portfolio is composed of mortgage servicing related assets, residential securities (and associated called rights) and loans, and consumer loans. New Residential’s investments in operating entities include its mortgage origination and servicing subsidiary, Newrez, and its special servicing division, Shellpoint Mortgage Servicing, as well as investments in affiliated businesses that provide services that are complementary to the origination and servicing businesses and other portfolios of mortgage related assets. Since inception in 2013, New Residential has a proven track record of performance, growing and protecting the value of its assets while generating attractive risk-adjusted returns and delivering over $3.7 billion in dividends to shareholders. New Residential is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes. New Residential is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm, and headquartered in New York City.


Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the offering and the intended use of proceeds of the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. The Company can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release.

For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” in the prospectus supplement and the prospectus related to the offering and in the Company’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, as well as the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference in the prospectus supplement related to the offering from the Company’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

ę Business Wire 2021
10/18NEW RESIDENTIAL INVESTMENT CORP. : Schedules Third Quarter 2021 Earnings Release and Confe..
10/12NEW RESIDENTIAL INVESTMENT : Acquisition of Genesis adds complementary capabilities in bus..
10/12NEW RESIDENTIAL INVESTMENT CORP. : Other Events, Financial Statements and Exhibits (form 8..
10/11Financial Stocks Weaken in Afternoon Trade
10/11Financial Stocks Retreat From Early Gains
10/11Financial Stocks Advance Pre-Bell Monday
10/11NEW RESIDENTIAL INVESTMENT : Enters Agreement With Goldman Sachs Affiliates to Acquire Gen..
10/11NEW RESIDENTIAL INVESTMENT CORP. : to Acquire Genesis Capital LLC
09/30NEW RESIDENTIAL INVESTMENT : Barclays Reinstates New Residential Investment at Overweight ..
09/22NEW RESIDENTIAL INVESTMENT CORP. : Declares Third Quarter 2021 Preferred Dividends
More news
More recommendations
Financials (USD)
Sales 2021 3 087 M - -
Net income 2021 693 M - -
Net Debt 2021 - - -
P/E ratio 2021 7,73x
Yield 2021 7,42%
Capitalization 5 417 M 5 417 M -
Capi. / Sales 2021 1,75x
Capi. / Sales 2022 1,74x
Nbr of Employees 6 128
Free-Float 99,5%
Duration : Period :
New Residential Investment Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NEW RESIDENTIAL INVESTMENT CORP.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 12
Last Close Price 11,61 $
Average target price 12,55 $
Spread / Average Target 8,06%
EPS Revisions
Managers and Directors
Michael Nierenberg Chairman, President & Chief Executive Officer
Nicola Santoro Treasurer, Chief Financial & Accounting Officer
Kevin J. Finnerty Independent Director
David Saltzman Independent Director
Douglas Lee Jacobs Independent Director