New Residential Investment Corp. (NYSE:NRZ) Upgraded by Vetr Inc. to “Buy”

New Residential Investment Corp. (NYSE:NRZ) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research report issued on Thursday, October 26th. The firm currently has a $17.75 target price on the real estate investment trust’s stock. Vetr‘s target price would suggest a potential upside of 2.78% from the company’s current price.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.00 price target on shares of New Residential Investment Corp. in a research report on Thursday, August 3rd. BidaskClub raised New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. FBR & Co reaffirmed a “buy” rating and issued a $17.50 price objective on shares of New Residential Investment Corp. in a research report on Monday, July 10th. Zacks Investment Research raised New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday, July 4th. Finally, ValuEngine cut New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.93.

New Residential Investment Corp. (NYSE NRZ) opened at $17.27 on Thursday. New Residential Investment Corp. has a twelve month low of $14.09 and a twelve month high of $17.91. The company has a market capitalization of $5,308.12, a PE ratio of 6.10, a PEG ratio of 6.47 and a beta of 1.04.

New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment Corp. had a return on equity of 19.38% and a net margin of 60.06%. The company had revenue of $331.38 million for the quarter, compared to the consensus estimate of $291.66 million. During the same quarter in the previous year, the business earned $0.51 EPS. New Residential Investment Corp.’s revenue was up 72.1% compared to the same quarter last year. analysts expect that New Residential Investment Corp. will post 2.67 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. boosted its holdings in shares of New Residential Investment Corp. by 203.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 4,060 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of New Residential Investment Corp. by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 629 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of New Residential Investment Corp. by 8.4% in the 2nd quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 593 shares during the last quarter. Ffcm LLC lifted its holdings in shares of New Residential Investment Corp. by 673.4% in the 3rd quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 6,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of New Residential Investment Corp. in the 2nd quarter valued at about $150,000. 48.06% of the stock is owned by institutional investors and hedge funds.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for New Residential Investment Corp. (NYSE:NRZ)

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