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
It's hard to really like the mortgage real estate investment trust (mREIT) sector right now. The Federal Reserve is about to begin trimming its purchases of mortgage-backed securities, and that will be a headwind for the entire sector. The first one is New Residential (NYSE: NRZ), and the second is Redwood Trust (NYSE: RWT).