New Residential Investment Corp. (NRZ) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of New Residential Investment Corp. (NYSE:NRZ) have been given an average rating of “Buy” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.08.

A number of research firms recently weighed in on NRZ. B. Riley reiterated a “buy” rating on shares of New Residential Investment Corp. in a research note on Wednesday, November 1st. ValuEngine upgraded shares of New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 2nd. Vetr upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.72 price target for the company in a research report on Monday, October 2nd. BidaskClub upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th.

Large investors have recently made changes to their positions in the stock. Dupont Capital Management Corp grew its position in New Residential Investment Corp. by 55.3% in the third quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock worth $4,646,000 after acquiring an additional 98,900 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in New Residential Investment Corp. by 63.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 155,034 shares of the real estate investment trust’s stock worth $2,412,000 after acquiring an additional 60,175 shares in the last quarter. Meeder Asset Management Inc. grew its position in New Residential Investment Corp. by 19.7% in the third quarter. Meeder Asset Management Inc. now owns 25,156 shares of the real estate investment trust’s stock worth $421,000 after acquiring an additional 4,135 shares in the last quarter. Utah Retirement Systems purchased a new position in New Residential Investment Corp. in the second quarter worth $874,000. Finally, Swiss National Bank lifted its stake in New Residential Investment Corp. by 3.2% in the second quarter. Swiss National Bank now owns 511,905 shares of the real estate investment trust’s stock worth $7,965,000 after purchasing an additional 15,800 shares during the last quarter. Institutional investors own 48.98% of the company’s stock.

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New Residential Investment Corp. (NRZ) opened at $17.46 on Monday. New Residential Investment Corp. has a one year low of $14.48 and a one year high of $17.91. The firm has a market cap of $5,366.53, a P/E ratio of 6.17, a P/E/G ratio of 6.55 and a beta of 1.04.

New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment Corp. had a net margin of 60.06% and a return on equity of 19.38%. The business had revenue of $331.38 million during the quarter, compared to analyst estimates of $291.66 million. During the same period 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 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 2nd were given a $0.50 dividend. The ex-dividend date was Friday, September 29th. This represents a $2.00 annualized dividend and a yield of 11.45%. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 64.72%.

About New Residential Investment Corp.

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.

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

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