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New Residential down 3% after share sale

Published 01/17/2018, 07:47 AM
© Reuters.  New Residential down 3% after share sale
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  • Gross proceeds from the 25M share secondary offering were $427.5M, suggesting a sale price of $17.10 each. The underwriters have an option to buy another 3.75M shares at that price.
  • Alongside, the company sees Q4 core EPS at $0.57-$0.65.
  • The filing also suggests NRZ may pay Ocwen Financial (NYSE:OCN) the remaining cash owed under the MSR sale earlier than thought. At least a few bulls would like to see Ocwen take this early windfall and buy back a major chunk of its stock.
  • NRZ -3% to $17.10 premarket
  • Now read: New Residential Investment (NRZ) Announces Acquisition of Shellpoint Partners - Slideshow


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