Stifel bumped their target to $18, believes dividend is safe at $2, maintains Outperform | NRZ Message Board Posts

New Residential Investment Corp.

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Msg  3411 of 3671  at  2/13/2020 8:32:08 AM  by

crashcardigan


 In response to msg 3409 by  delt1970
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Re: Stifel bumped their target to $18, believes dividend is safe at $2, maintains Outperform

 Note Steifel reiterates what Mike noted in the CC about higher B/V:
 
 We continue to think NRZ's valuation is attractive at 1.08x trailing GAAP
book value. Management presented some detail on a rough earnings range for
its ancillary business segments (including Covius, Guardian, and the operating
earnings generated from servicing) of $250-$400 million per year. Since those
businesses are marked at cost in NRZ's GAAP book value, we think their fair
value could easily add $1.50+ to NRZ's economic NAV.


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Msg # Subject Author Recs Date Posted
3412 Re: Stifel bumped their target to $18, believes dividend is safe at $2, maintains Outperform rlp2451 1 2/13/2020 9:19:42 AM






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