PreferredStockChannel
New Residential Investment Corp | 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NRZ.PRA)

Prospectus excerpt:  We are offering 5,400,000 shares of our 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share, with a liquidation preference of $25.00 per share (the “Series A Preferred Stock”) by this prospectus supplement and the accompanying prospectus. Holders of the Series A Preferred Stock will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, August 15, 2024 at a fixed rate equal to 7.50% per annum of the $25.00 per share liquidation preference (equivalent to $1.875 per annum per share) and (ii) from and including August 15, 2024, at a floating rate per annum equal to three-month LIBOR plus a spread of 5.802% per annum. Dividends will be payable quarterly in arrears on or about the 15th day of February, May, August and November of each year, when and as declared, beginning on November 15, 2019 (long first Dividend Period (as defined herein)). Dividends will accumulate and be cumulative from, and including, the original issue date of the Series A Preferred Stock.

Full Prospectus PDF », NRZ Page »

Series:A
Alternate symbology:NRZ-A, NRZ-PA, NRZprA
Redeemable?:Yes
Call Date:8/15/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5,400,000
Overallotment:810,000
Liquidation Preference:$25
Recent Market Price:$25.45
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.45 (1.80%)
Annualized Dividend:1.875
Recent Ex-Date:10/14/2021
Current Yield:7.37%
Original Coupon:7.50%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn NRZ.PRA's Rating
New Residential Investment is a holding company. Through its subsidiaries, Co. is an investment manager with a vertically integrated mortgage platform. Co.'s portfolio is comprised of mortgage servicing rights (MSRs), a mortgage origination and servicing company, related ancillary mortgage services businesses, residential mortgage-backed securities and loans, consumer loans, and other investments. Co. is externally managed and advised by an affiliate of Fortress Investment Group LLC. Co. conducts its business in five segments: Origination, Servicing, MSR Related Investments, Residential Loans and Consumer Loans.

Preferreds: NRZ.PRA, NRZ.PRB


Open the NRZ Information Page »
Name: 
New Residential Investment Corp
Website: 
www.newresi.com
Sector: 
REITs
Number of ETFs Holding NRZ: 
43 (see which ones)
Total Market Value Held by ETFs: 
$568,470,011.39
Total Market Capitalization: 
$5,146,000,000
% of Market Cap. Held by ETFs: 
11.05%

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