This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Residential Announces Third Quarter 2013 Results

Stocks in this article: NRZ

New Residential Investment Corp. (NYSE: NRZ) (the “Company” or “New Residential”) today reported the following information for the full quarter ended September 30, 2013:

  • GAAP Income of $63 million, or $0.24 per diluted share
  • Core Earnings of $38 million, or $0.15 per diluted share
  • Invested approximately $250 million of capital
  • Raised over $140 million of cash to reinvest, mainly through additional debt issuance related to consumer loan investment
  • Michael Nierenberg appointed as Chief Executive Officer and Susan Givens appointed as Chief Financial Officer, effective as of November 13, 2013


For the Company’s first full quarter as a separately traded public company, New Residential earned:


  3Q 2013  

Summary Operating Results:
GAAP Income $63.1 million
GAAP Income per Diluted Share $0.24
Non-GAAP Results:
Core Earnings (1) $37.9 million
Core Earnings per Diluted Share (1) $0.15


The Company amended its definition of Core Earnings to exclude incentive compensation and non-capitalized deal costs in the third quarter of 2013. For a reconciliation of GAAP Income to Core Earnings, please refer to the Reconciliation of Core Earnings table herein.

GAAP income of $63 million consisted of the following:

  • $38 million of Core Earnings which is equal to net interest income less certain expenses; plus $13 million of other income related to changes in the fair value of excess mortgage servicing rights (“Excess MSRs”); plus $11 million of gain on the sale of securities; plus $6 million of additional GAAP income related to the consumer loan investment; less $4 million of incentive compensation.

As of September 30, 2013, New Residential’s GAAP book value was $4.98 per share, an increase of $0.06 per share from June 30, 2013.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs