Mr. Market seems to think a cut is imminent... | NRZ Message Board Posts

New Residential Investment Corp.

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Msg  3211 of 3248  at  11/14/2019 6:26:00 PM  by

Berner


 In response to msg 3209 by  rlp2451
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Re: Mr. Market seems to think a cut is imminent...

Nonsense! MREITs always live hand to mouth and nobody has a better history of dividend coverage. With loan sales up, NRZ will post significant mortgage banking revenue in addition to the accretive DiTech acquisition. IMHO, 4th quarter will be very strong.

The analysts changes are regarding NRZ hedging book value against falling rates. NRZ made the right move. Falling rates could have destroyed their book value. The hedges should make book value neutral plus or minus 50 basis points. Based on my analysis, NRZ’s book value is >$16. When you factor in call rights and dividend coverage, NRZ should be trading much higher. I bought a few more shares today.


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