New Residential Investment Corp. (NYSE:NRZ) Given Consensus Rating of “Buy” by Brokerages

Shares of New Residential Investment Corp. (NYSE:NRZGet Rating) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.67.

Several equities research analysts have commented on NRZ shares. Zacks Investment Research lowered New Residential Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 17th. StockNews.com initiated coverage on New Residential Investment in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler reduced their price objective on New Residential Investment from $12.50 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 5th. They noted that the move was a valuation call. Finally, Raymond James increased their price objective on New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, March 29th.

A number of institutional investors have recently made changes to their positions in the stock. M&R Capital Management Inc. grew its position in shares of New Residential Investment by 2.6% during the 1st quarter. M&R Capital Management Inc. now owns 39,120 shares of the real estate investment trust’s stock valued at $429,000 after buying an additional 1,000 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in New Residential Investment by 5.2% during the fourth quarter. Evergreen Capital Management LLC now owns 408,397 shares of the real estate investment trust’s stock valued at $4,374,000 after purchasing an additional 20,121 shares during the last quarter. Front Row Advisors LLC lifted its stake in New Residential Investment by 7.8% during the fourth quarter. Front Row Advisors LLC now owns 20,800 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 1,500 shares during the last quarter. Norges Bank acquired a new stake in New Residential Investment during the fourth quarter valued at approximately $45,373,000. Finally, Stephens Inc. AR lifted its stake in New Residential Investment by 25.2% during the fourth quarter. Stephens Inc. AR now owns 36,343 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 7,323 shares during the last quarter. 46.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:NRZ traded up $0.07 on Friday, reaching $10.32. The company had a trading volume of 3,925,754 shares, compared to its average volume of 5,643,810. New Residential Investment has a 52-week low of $8.98 and a 52-week high of $11.81. The firm’s 50 day simple moving average is $10.52 and its 200-day simple moving average is $10.88. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.82 billion, a PE ratio of 6.70 and a beta of 1.77.

New Residential Investment (NYSE:NRZGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $984.90 million. New Residential Investment had a return on equity of 14.22% and a net margin of 30.10%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, equities research analysts predict that New Residential Investment will post 1.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Monday, April 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 1st. This represents a $1.00 annualized dividend and a yield of 9.69%. New Residential Investment’s payout ratio is currently 64.94%.

New Residential Investment Company Profile (Get Rating)

New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate.

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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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