Replies to post #94356 on Savvy Trades and Investments

[cliffvb]

IVR has been a mistake, so far anyway. Of course, I did not expect the market to tank 5% last week either. Thanks for the link too, although I suspect mreits were hit harder in both 2008 and 2020 than equity reits were. Absent those two extra-ordinary years, I wonder how they compare.

[researcher59]

NRZ (10.20) reports Q4 core EPS of $0.40 and $1.48 for the year. Book value rose sequentially from $11.35 to $11.44. Many mREITs are seeing modest sequential declines in book value due to rising interest rates, but NRZ was well hedged with a large MSR portfolio that benefits from rising rates. Current quarterly dividend is $0.25, a 9.8% yield, and it looks like they're well positioned to raise that sometime in 2022.

PR -

“New Residential delivered another quarter and full year of strong results, rounding out 2021 on a high note,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of New Residential.

“As we look ahead in 2022, we are extremely well-positioned to benefit from the current rate environment given our large portfolio of MSRs and our complementary operating businesses, which should help drive earnings and book value higher,” he added. “We will continue to prioritize reducing expenses and achieving synergies across all of our operating businesses and look forward to executing on our strategy of combining these businesses with our investment management expertise and unique portfolio of investments to drive attractive risk-adjusted returns for our shareholders.”