Analysts expect New Residential Inv (NYSE:NRZ) to post $0.55 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for New Residential Inv’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. New Residential Inv posted earnings of $0.54 per share during the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The business is scheduled to report its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that New Residential Inv will report full year earnings of $2.19 per share for the current year, with EPS estimates ranging from $2.10 to $2.30. For the next financial year, analysts anticipate that the business will report earnings of $2.17 per share, with EPS estimates ranging from $2.00 to $2.32. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow New Residential Inv.
New Residential Inv (NYSE:NRZ) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. New Residential Inv had a net margin of 63.01% and a return on equity of 18.73%. The firm had revenue of $235.27 million during the quarter, compared to analyst estimates of $178.15 million. During the same period in the previous year, the business posted $0.62 EPS.
A number of research firms have commented on NRZ. Vetr upgraded shares of New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.60 price target on the stock in a research report on Thursday, February 22nd. Wedbush upgraded shares of New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Thursday, January 18th. B. Riley set a $19.00 price target on shares of New Residential Inv and gave the stock a “buy” rating in a research report on Tuesday, February 13th. ValuEngine downgraded shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of New Residential Inv from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $18.64.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in shares of New Residential Inv by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 709,541 shares of the real estate investment trust’s stock worth $11,870,000 after purchasing an additional 44,478 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of New Residential Inv by 25.7% in the 3rd quarter. Legal & General Group Plc now owns 266,008 shares of the real estate investment trust’s stock worth $4,450,000 after purchasing an additional 54,446 shares in the last quarter. Chesley Taft & Associates LLC bought a new stake in shares of New Residential Inv in the 4th quarter worth approximately $564,000. Telemus Capital LLC raised its holdings in shares of New Residential Inv by 12.4% in the 4th quarter. Telemus Capital LLC now owns 394,620 shares of the real estate investment trust’s stock worth $7,056,000 after purchasing an additional 43,650 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of New Residential Inv by 314.8% in the 4th quarter. Teacher Retirement System of Texas now owns 105,340 shares of the real estate investment trust’s stock worth $1,883,000 after purchasing an additional 79,947 shares in the last quarter. Institutional investors and hedge funds own 48.40% of the company’s stock.
NRZ stock opened at $16.27 on Friday. New Residential Inv has a 52 week low of $15.04 and a 52 week high of $18.43. The stock has a market cap of $5,421.86, a price-to-earnings ratio of 5.75 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Monday, April 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.29%. New Residential Inv’s payout ratio is currently 70.67%.
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New Residential Inv Company Profile
New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.
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