New Residential Investment Corp. [Ticker Symbol has Changed] | REIT Profile
Symbol: NRZ
new symbol: RITM
CIK: 1556593
Exchange: NYSE
Founded: 2011
HQ: New York, NY, United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Mortgage
Externally Managed REIT
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New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in mortgage servicing related assets and other related opportunistic investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust ("REIT") for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC (NYSE: FIG), a global investment management firm.
Latest REIT Press Releases
- New Residential Investment Corp. Announces Internalization and Rebrand to Rithm Capital, and Declares Second Quarter 2022 Dividends - Fri, 17 Jun 2022 20:36:49 UTC
- New Residential Investment Corp. Announces First Quarter 2022 Results - Tue, 03 May 2022 10:45:49 UTC
- New Residential Investment Corp. Declares First Quarter 2022 Common and Preferred Dividends - Mon, 21 Mar 2022 20:15:44 UTC
- New Residential Investment Corp. Announces Fourth Quarter and Full Year 2021 Results - Tue, 08 Feb 2022 11:30:58 UTC
- New Residential Investment Corp. Announces Tax Treatment of 2021 Dividends - Fri, 28 Jan 2022 21:15:56 UTC
Related Information
| Material | Source | Description |
|---|---|---|
| New Residential Investment Corp. Announces Internalization and Rebrand to Rithm Capital, and Declares Second Quarter 2022 Dividends (2022-06-17) | BUSINESS WIRE | NEW YORK--(BUSINESS WIRE)-- New Residential Investment Corp. (NYSE: NRZ) (“NRZ” or the “Company”) announced today it has entered into agreements providing for the internalization of the Company’s management function. In conjunction with the internalization, the Company announced plans to change its name and rebrand as Rithm Capital Corp. (NYSE: RITM) (“Rithm Capital”). Internalization Agreement Under the Internalization Agreement, the parties have terminated the Management and Advisory Agreement, dated May 7, 2015 (the “Management Agreement”), effective as of June 17, 2022 (the “Effective Date”). In connection with the termination of the Management Agreement, the Company has agreed to pay FIG LLC (the “Manager”) $400 million, with $200 million paid on the Effective Date, $100 million payable on September 15, 2022 and $100 million payable on December 15, 2022. As a result of the termination of the Management Agreement, and subject to an agreed upon transition described in more detail below, NRZ has ceased to be externally managed and now operates as an internally managed REIT. |
Related REITs
| REIT | REITRating™ Score | Exchange | Market Capitalization | Sector | Country |
|---|---|---|---|---|---|
| New York Mortgage Trust, Inc. (NYMT) | 6.4 | NASDAQ | Small-Cap | Mortgage | United States |
| Realty Income Corp (O) | 8.1 | NYSE | Large-Cap | Retail Industrial Office Specialty | United States |
Last updated: 2025-04-25 - v5.9