Vetr upgraded shares of New Residential Investment (NYSE:NRZ) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning. The firm currently has $18.60 price target on the real estate investment trust’s stock.
NRZ has been the topic of several other research reports. B. Riley restated a buy rating and set a $19.25 target price on shares of New Residential Investment in a report on Wednesday, November 29th. Zacks Investment Research cut New Residential Investment from a buy rating to a hold rating in a report on Wednesday, November 15th. Wedbush upgraded New Residential Investment from a neutral rating to an outperform rating and set a $20.00 target price on the stock in a report on Thursday, January 18th. FBR & Co reiterated a buy rating and issued a $19.25 price target on shares of New Residential Investment in a report on Monday, October 30th. Finally, ValuEngine cut New Residential Investment from a strong-buy rating to a buy rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $18.61.
Shares of New Residential Investment (NYSE:NRZ) traded down $0.01 during mid-day trading on Thursday, hitting $16.53. The stock had a trading volume of 456,576 shares, compared to its average volume of 4,432,044. The company has a market capitalization of $5,510.00, a PE ratio of 5.30 and a beta of 0.92. New Residential Investment has a 12 month low of $15.04 and a 12 month high of $18.43.
New Residential Investment (NYSE:NRZ) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The company had revenue of $235.27 million for the quarter, compared to analysts’ expectations of $178.15 million. New Residential Investment had a return on equity of 18.73% and a net margin of 63.01%. During the same quarter in the prior year, the business earned $0.62 earnings per share. sell-side analysts anticipate that New Residential Investment will post 2.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 12.10%. The ex-dividend date of this dividend was Thursday, December 28th. New Residential Investment’s dividend payout ratio is 64.10%.
A number of institutional investors have recently bought and sold shares of NRZ. TCI Wealth Advisors Inc. boosted its holdings in New Residential Investment by 203.0% in the third quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 4,060 shares during the last quarter. American International Group Inc. bought a new position in New Residential Investment in the fourth quarter valued at about $115,000. Ffcm LLC boosted its holdings in New Residential Investment by 673.4% in the third 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. Janus Henderson Group PLC bought a new position in New Residential Investment in the second quarter valued at about $168,000. Finally, Cadence Capital Management LLC bought a new position in New Residential Investment in the third quarter valued at about $170,000. Institutional investors and hedge funds own 48.79% of the company’s stock.
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About New Residential Investment
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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