New Residential Investment Corp Company Profile

New Residential Investment Corp is an investment trust focused on real estate and other opportunistic investments. The firm offers services such as the management and investing in residential real estate. It was founded in 2011 and is based in New York. Its primary investment targets are excess MSRs, servicer advances, and nonagency RMBS or residential mortgage backed securities. Michael Nierenberg is the current CEO, President, and Chairman of the firm. He had experience working with big companies such as JP Morgan, Bank of Merril Lynch, and Bear Stearns. Joining him in leading the firm is Nicola Santoro, who is the Chief Financial Officer and the treasurer. Santoro is known for serving as the Chief accounting officer of FXCM from 2012 to 2015.

Another executive of the New Residential Investment Corp is Jonathan Brown, who is the Chief Accounting Officer. New Residential Investment Corp is dedicated to making value by using proven best investment techniques and to deliver stronger dividends to their shareholders. The firm is abiding by their objectives by targeting assets that can provide long term cash flows and can thrive on high-interest rates. As of 2018, the firm succeeded in giving $0.50 per common share dividends to their stockholders for the first and second quarter. A fourth quarter dividend was also announced before the year ends, with the record date set to December 31 and the ex-date set to December 28.

The dividend will be released this month at 25th. Annual yield for the first and second quarter is said to be 12.2% and 11.4% respectively. New Residential Investment Group is also known to be guided by an affiliate of Fortress Investment Group LLC. This affiliate is said to be a highly diversified global alternative investment manager and has $58 billion of assets on his care. The firm’s acquisition of Shellpoint Partners has been completed last year. Plans for acquisition for $192 million has been announced last 2017. Shellpoint is a vertically integrated mortgage platform based in New York. According to Seeking Alpha, this acquisition helped the New Residential Investment Corp to finally be able to fully own MSRs. With this growth, it is expected that the firm will even evolve more in the future.

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