According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “
A number of other analysts also recently issued reports on the stock. BTIG Research started coverage on shares of New Residential Investment in a report on Friday, September 6th. They set a buy rating and a $18.00 price target for the company. Wedbush restated an outperform rating on shares of New Residential Investment in a report on Monday, August 19th. Piper Jaffray Companies cut their price target on shares of New Residential Investment from $18.00 to $16.00 and set an overweight rating for the company in a report on Friday, October 4th. B. Riley set a $19.00 price objective on shares of New Residential Investment and gave the stock a buy rating in a research report on Thursday, August 29th. Finally, ValuEngine raised shares of New Residential Investment from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $18.08.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $188.04 million during the quarter, compared to analyst estimates of $240.28 million. New Residential Investment had a net margin of 17.24% and a return on equity of 13.22%. During the same quarter in the previous year, the company posted $0.58 EPS. On average, equities research analysts expect that New Residential Investment will post 2.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.89%. New Residential Investment’s payout ratio is currently 84.03%.
Several large investors have recently bought and sold shares of NRZ. Balyasny Asset Management LLC boosted its position in shares of New Residential Investment by 44.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 5,259,116 shares of the real estate investment trust’s stock worth $80,938,000 after purchasing an additional 1,624,073 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of New Residential Investment during the 2nd quarter worth approximately $23,526,000. Atria Investments LLC purchased a new position in shares of New Residential Investment during the 2nd quarter worth approximately $10,788,000. UBS Group AG boosted its position in shares of New Residential Investment by 20.2% during the 2nd quarter. UBS Group AG now owns 5,893,173 shares of the real estate investment trust’s stock worth $90,696,000 after purchasing an additional 989,905 shares during the period. Finally, BlackRock Inc. boosted its position in shares of New Residential Investment by 3.9% during the 2nd quarter. BlackRock Inc. now owns 25,928,104 shares of the real estate investment trust’s stock worth $399,033,000 after purchasing an additional 983,142 shares during the period. 53.10% of the stock is owned by hedge funds and other institutional investors.
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 and Originations, Residential Securities and Loans, and Consumer Loans 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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