New Residential Investment Corp (NRZ) Receives Average Rating of “Buy” from Brokerages

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Shares of New Residential Investment Corp (NYSE:NRZ) have earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.62.

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on New Residential Investment from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised New Residential Investment from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded New Residential Investment from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd.

Shares of NRZ stock opened at $18.24 on Friday. New Residential Investment has a 1-year low of $15.24 and a 1-year high of $18.75. The stock has a market cap of $6.21 billion, a P/E ratio of 6.45 and a beta of 0.93.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. New Residential Investment had a return on equity of 14.85% and a net margin of 83.31%. The company had revenue of $269.89 million for the quarter, compared to the consensus estimate of $130.70 million. During the same quarter last year, the company earned $1.03 earnings per share. equities analysts expect that New Residential Investment will post 2.29 EPS for the current year.

In other New Residential Investment news, CEO Michael Nierenberg sold 339,177 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $18.30, for a total value of $6,206,939.10. Following the completion of the sale, the chief executive officer now owns 2,085,352 shares of the company’s stock, valued at $38,161,941.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of NRZ. Victory Capital Management Inc. boosted its holdings in New Residential Investment by 214.0% in the second quarter. Victory Capital Management Inc. now owns 7,292 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 4,970 shares in the last quarter. Signaturefd LLC boosted its holdings in New Residential Investment by 109.8% in the second quarter. Signaturefd LLC now owns 8,088 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 4,233 shares in the last quarter. Ostrum Asset Management acquired a new stake in New Residential Investment in the first quarter worth about $170,000. Wesbanco Bank Inc. acquired a new stake in New Residential Investment in the second quarter worth about $177,000. Finally, Hilltop Holdings Inc. acquired a new stake in New Residential Investment in the first quarter worth about $179,000. 52.45% of the stock is owned by institutional investors and hedge funds.

New Residential Investment 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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