This is often the difference between a value stock and a value trap. The market has beaten up on mortgage real estate investment trust New Residential (NYSE: NRZ) -- but it's not giving the company's cash-generating operating business enough credit. New Residential has been beefing up its mortgage origination business, and recently completed its purchase of Caliber Home Loans.
NEW YORK, September 14, 2021--New Residential Investment Corp. Announces Pricing of Public Offering of Preferred Stock
NEW YORK, September 14, 2021--New Residential Investment Corp. (NYSE: NRZ; "New Residential" or the "Company") announces that it has launched an opportunistic underwritten public offering of Fixed-Rate Reset Series D Cumulative Redeemable Preferred Stock (the "Preferred Stock"), subject to market conditions. The terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company intends to apply to list the Preferred Stock on the New York Stock