Vetr cut shares of New Residential Investment Corp. (NYSE:NRZ) from a buy rating to a hold rating in a research report report published on Thursday. They currently have $16.55 price target on the real estate investment trust’s stock.
Other analysts have also recently issued research reports about the stock. FBR & Co reiterated a buy rating and issued a $17.50 price objective on shares of New Residential Investment Corp. in a research note on Monday, July 10th. Zacks Investment Research cut shares of New Residential Investment Corp. from a buy rating to a sell rating in a research report on Wednesday, July 5th. ValuEngine cut shares of New Residential Investment Corp. from a strong-buy rating to a buy rating in a research report on Friday, June 30th. BidaskClub cut shares of New Residential Investment Corp. from a buy rating to a hold rating in a research report on Thursday, June 29th. Finally, Wedbush cut shares of New Residential Investment Corp. from an outperform rating to a neutral rating and cut their target price for the stock from $17.00 to $16.50 in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $16.51.
New Residential Investment Corp. (NYSE NRZ) traded up 0.25% on Thursday, reaching $15.96. 1,680,879 shares of the company were exchanged. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 7.83 and a beta of 1.00. The stock has a 50-day moving average price of $16.05 and a 200 day moving average price of $16.37. New Residential Investment Corp. has a 52 week low of $13.30 and a 52 week high of $17.86.
New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The business had revenue of $170.60 million for the quarter, compared to the consensus estimate of $239.83 million. New Residential Investment Corp. had a net margin of 43.60% and a return on equity of 15.48%. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts forecast that New Residential Investment Corp. will post $2.12 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/07/21/new-residential-investment-corp-nrz-downgraded-to-hold-at-vetr-inc.html.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Monday, July 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 12.53%. This is an increase from New Residential Investment Corp.’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, June 29th. New Residential Investment Corp.’s payout ratio is presently 98.52%.
A number of large investors have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its stake in New Residential Investment Corp. by 0.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,500 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 77 shares in the last quarter. US Bancorp DE increased its stake in New Residential Investment Corp. by 0.6% in the second quarter. US Bancorp DE now owns 15,807 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 100 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in New Residential Investment Corp. by 5.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,941 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 604 shares in the last quarter. Profund Advisors LLC increased its stake in New Residential Investment Corp. by 6.2% in the first quarter. Profund Advisors LLC now owns 19,823 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 1,161 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. increased its stake in New Residential Investment Corp. by 1.7% in the first quarter. Waratah Capital Advisors Ltd. now owns 89,463 shares of the real estate investment trust’s stock valued at $1,519,000 after buying an additional 1,473 shares in the last quarter. Hedge funds and other institutional investors own 54.82% of the company’s stock.
About New Residential Investment Corp.
New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.
Receive News & Ratings for New Residential Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.
