New Residential Investment Q2 Profit Rises - Quick Facts

(RTTNews) - New Residential Investment Corp. (NRZ) said that its net income attributable to common stockholders for the second quarter rose to $123.50 million or $0.44 per share from $109.22 million or $0.43 per share in the year ago quarter.

Core earnings for the latest-quarter were $56 million, or $0.20 per share.

Net Interest Income for the quarter was $56.14 million up from $20.35 million in the year ago quarter. Other Income was $177.89 million, up from $98.18 million last year.

The company also announced that it will hold a special meeting of stockholders to seek approval for a 2-for-1 reverse stock split of its common stock. The meeting will be held on October 15, 2014, and holders of the Company's common stock as of the close of business on August 26, 2014 will be entitled to notice of, and to vote at, the meeting.

If approved by the holders of the Company's common stock, every two shares of the Company's common stock will be converted into one share of common stock, reducing the total number of issued and outstanding shares of the Company's common stock from approximately 282 million to approximately 141 million.