Shares of New Residential Inv (NYSE:NRZ) have been given an average rating of “Buy” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.87.
Several brokerages have recently weighed in on NRZ. Vetr cut New Residential Inv from a “strong-buy” rating to a “buy” rating and set a $18.60 price objective for the company. in a report on Tuesday, March 6th. Zacks Investment Research upgraded New Residential Inv from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. B. Riley set a $19.00 price target on New Residential Inv and gave the stock a “buy” rating in a report on Tuesday, February 13th. ValuEngine cut New Residential Inv from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Wedbush upgraded New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Thursday, January 18th.
Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in New Residential Inv by 6.7% during the third 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 during the period. Legal & General Group Plc grew its holdings in New Residential Inv by 25.7% during the third 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 during the period. Chesley Taft & Associates LLC bought a new position in New Residential Inv during the fourth quarter worth about $564,000. Telemus Capital LLC grew its holdings in New Residential Inv by 12.4% during the fourth 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 during the period. Finally, Xact Kapitalforvaltning AB bought a new position in New Residential Inv during the fourth quarter worth about $383,000. Institutional investors and hedge funds own 47.92% of the company’s stock.
New Residential Inv (NYSE:NRZ) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The company had revenue of $235.27 million during the quarter, compared to analysts’ expectations of $178.15 million. New Residential Inv had a return on equity of 18.73% and a net margin of 63.01%. During the same quarter last year, the company earned $0.62 EPS. sell-side analysts anticipate that New Residential Inv will post 2.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Monday, April 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 11.81%. The ex-dividend date of this dividend is Thursday, March 29th. New Residential Inv’s payout ratio is currently 70.67%.
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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