New Residential Spin-Off: 13 Things for Potential NRZ Stock Investors to Know

New Residential (NYSE:NRZ) is preparing for a spin-off of NewRez with an initial public offering (IPO) on the way.

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Here’s what investors in New Residential need to know about the spin-off plans.

  • New Rez is a mortgage lending and services company under New Residential.
  • An affiliate of the company has confidentially submitted a draft registration statement for an IPO with the U.S. Securities and Exchange Commission (SEC).
  • The finer details of this IPO spin-off from New Residential are still unknown.
  • That includes no idea of how many shares of NewRez stock will be offered or at what price per share.
  • We also don’t know what exchange the company plans to trade on or what stock ticker it will be using.
  • Adding to that, there’s no date range revealing when the IPO might take place.
  • Instead, New Residential just says that it will occur following once the SEC completes its review of the filing.
  • Of course, that also includes changing the potential timing based on market conditions.
  • It’s worth noting that New Residential is a mortgage real estate investment trust.
  • The company was founded in 2011 and started trading shares publicly in 2013.
  • NRZ stock’s current market capitalization is sitting at 3.88 billion.
  • news of the New Residential spin-off has boosted trading to about 6.49 million shares as of noon Friday.
  • That’s above the company’s average daily trading volume of 4.53 million shares.

NRZ stock was up 8.3% as of noon Friday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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