New Residential Investment Corp (NRZ) Receives $19.77 Average PT from Analysts

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Shares of New Residential Investment Corp (NYSE:NRZ) have earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.77.

Several research analysts have issued reports on NRZ shares. Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Raymond James started coverage on shares of New Residential Investment in a report on Friday, October 5th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Barclays raised their price target on shares of New Residential Investment from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th.

New Residential Investment stock traded up $0.22 during mid-day trading on Monday, hitting $17.63. 6,827,248 shares of the stock were exchanged, compared to its average volume of 5,115,375. New Residential Investment has a 12 month low of $15.24 and a 12 month high of $18.75. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 7.48 and a beta of 0.87.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.09. New Residential Investment had a net margin of 79.22% and a return on equity of 14.35%. The firm had revenue of $262.72 million during the quarter, compared to analyst estimates of $231.40 million. Equities research analysts expect that New Residential Investment will post 2.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Monday, October 1st were paid a $0.50 dividend. The ex-dividend date was Friday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 11.34%. New Residential Investment’s dividend payout ratio is currently 70.67%.

Several large investors have recently added to or reduced their stakes in NRZ. State Treasurer State of Michigan increased its stake in shares of New Residential Investment by 362.1% in the 3rd quarter. State Treasurer State of Michigan now owns 3,096,176 shares of the real estate investment trust’s stock valued at $55,174,000 after acquiring an additional 2,426,176 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of New Residential Investment by 96.3% in the 3rd quarter. Wells Fargo & Company MN now owns 2,878,288 shares of the real estate investment trust’s stock valued at $51,292,000 after acquiring an additional 1,412,178 shares in the last quarter. Mackay Shields LLC increased its stake in shares of New Residential Investment by 872.7% in the 2nd quarter. Mackay Shields LLC now owns 934,048 shares of the real estate investment trust’s stock valued at $16,337,000 after acquiring an additional 838,024 shares in the last quarter. BlackRock Inc. increased its stake in shares of New Residential Investment by 3.9% in the 3rd quarter. BlackRock Inc. now owns 20,782,351 shares of the real estate investment trust’s stock valued at $370,342,000 after acquiring an additional 779,586 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of New Residential Investment by 8.4% in the 2nd quarter. Bank of America Corp DE now owns 8,681,087 shares of the real estate investment trust’s stock valued at $151,833,000 after acquiring an additional 673,770 shares in the last quarter. Institutional investors own 53.41% of the company’s stock.

About New Residential Investment

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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