New Residential Investment Corp (NYSE:NRZ) – Analysts at B. Riley reduced their FY2017 EPS estimates for New Residential Investment in a research note issued to investors on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings per share of $2.73 for the year, down from their previous forecast of $2.74. B. Riley currently has a “Buy” rating and a $19.25 price target on the stock. B. Riley also issued estimates for New Residential Investment’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.53 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.15 EPS.
A number of other research analysts have also issued reports on NRZ. ValuEngine lowered shares of New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 target price on the stock in a report on Monday, October 2nd. FBR & Co reiterated a “buy” rating and set a $17.50 price objective on shares of New Residential Investment in a report on Monday, October 9th. Barclays increased their price objective on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. New Residential Investment has a consensus rating of “Buy” and an average price target of $18.09.
New Residential Investment (NYSE NRZ) opened at $17.74 on Friday. The stock has a market cap of $5,450.00, a PE ratio of 5.74, a price-to-earnings-growth ratio of 8.10 and a beta of 1.02. New Residential Investment has a 1-year low of $15.03 and a 1-year high of $18.43.
New Residential Investment (NYSE:NRZ) last released its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The company had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The firm’s quarterly revenue was up 72.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 11.27%. New Residential Investment’s payout ratio is currently 64.72%.
Several hedge funds have recently made changes to their positions in NRZ. TCI Wealth Advisors Inc. lifted its holdings in shares of New Residential Investment by 203.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 4,060 shares during the period. Ffcm LLC lifted its holdings in shares of New Residential Investment by 673.4% during the 3rd quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 6,074 shares during the period. Laurion Capital Management LP purchased a new position in shares of New Residential Investment during the 2nd quarter worth about $166,000. Janus Henderson Group PLC purchased a new position in shares of New Residential Investment during the 2nd quarter worth about $168,000. Finally, Cadence Capital Management LLC purchased a new position in shares of New Residential Investment during the 3rd quarter worth about $170,000. Institutional investors and hedge funds own 48.49% of the company’s stock.
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New Residential Investment 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.
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