RBC Raises TP to $13 from $12 EOM | NRZ Message Board Posts


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Msg  4837 of 4927  at  11/19/2021 8:34:36 AM  by

lumpygravy


 In response to msg 4836 by  rlp2451
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Re: RBC Raises TP to $13 from $12 EOM

November 18, 2021
 
New Residential Investment Corp
3Q21 review; Updating our estimates
 
Our view: We are updating our estimates post 3Q results. Pending
Genesis Capital acquisition gives NRZ origination capability in biz purpose
loans, high-yielding short-duration assets. We continue to believe the
combination of the Newrez-Caliber biz and investment portfolio could
allow NRZ to perform well under various rate scenarios, and believe
there could be potential for dividend increases as earnings grow (through
improving recapture rates, benefit of MSR portfolio and purchase
origination volume growth). Maintain Outperform and adjusting PT to $13
(from $12).

 


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