New Residential Investment (NYSE:NRZ) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. Wedbush also issued estimates for New Residential Investment’s FY2017 earnings at $2.73 EPS, Q1 2018 earnings at $0.55 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.12 EPS.
A number of other brokerages have also issued reports on NRZ. Vetr upgraded New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 target price on the stock in a research report on Thursday, October 26th. Barclays increased their target price on New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, October 24th. Zacks Investment Research lowered New Residential Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. B. Riley reiterated a “buy” rating on shares of New Residential Investment in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded New Residential Investment from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.09.
Shares of New Residential Investment (NRZ) opened at $17.19 on Thursday. The company has a market cap of $5,280.00, a P/E ratio of 5.56, a PEG ratio of 8.09 and a beta of 1.02. New Residential Investment has a one year low of $15.03 and a one year high of $18.43.
New Residential Investment (NYSE:NRZ) last announced its 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 had a return on equity of 19.38% and a net margin of 60.06%. The firm had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue was up 72.1% on a year-over-year basis. research analysts predict that New Residential Investment will post 2.73 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in NRZ. TCI Wealth Advisors Inc. lifted its holdings in New Residential Investment by 203.0% in 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 in the last quarter. Ffcm LLC lifted its holdings in New Residential Investment 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 purchasing an additional 6,074 shares in the last quarter. Laurion Capital Management LP purchased a new position in New Residential Investment in the 2nd quarter valued at $166,000. Janus Henderson Group PLC purchased a new position in New Residential Investment in the 2nd quarter valued at $168,000. Finally, Cadence Capital Management LLC purchased a new position in New Residential Investment in the 3rd quarter valued at $170,000. Institutional investors own 48.55% 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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