ValuEngine upgraded shares of New Residential Investment Corp. (NYSE:NRZ) from a buy rating to a strong-buy rating in a research note released on Tuesday.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of New Residential Investment Corp. from a buy rating to a sell rating in a report on Wednesday, July 5th. FBR & Co reaffirmed an outperform rating and set a $17.50 price target on shares of New Residential Investment Corp. in a report on Sunday, April 23rd. BidaskClub lowered shares of New Residential Investment Corp. from a buy rating to a hold rating in a report on Thursday, June 29th. Vetr lowered shares of New Residential Investment Corp. from a buy rating to a hold rating and set a $17.58 price target on the stock. in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods set a $17.00 price target on shares of New Residential Investment Corp. and gave the company a buy rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $16.62.
New Residential Investment Corp. (NYSE:NRZ) traded up 0.24% during mid-day trading on Tuesday, hitting $16.83. 2,822,542 shares of the stock traded hands. New Residential Investment Corp. has a one year low of $13.30 and a one year high of $17.86. The company has a 50 day moving average price of $16.06 and a 200-day moving average price of $16.39. The stock has a market capitalization of $5.17 billion, a PE ratio of 5.97 and a beta of 1.02.
New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 EPS for the quarter, beating the consensus estimate of $0.55 by $0.48. The company had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 20.15%. During the same period in the previous year, the company earned $0.52 EPS. Equities analysts anticipate that New Residential Investment Corp. will post $2.32 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, June 29th. This is a positive change from New Residential Investment Corp.’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 11.88%. New Residential Investment Corp.’s payout ratio is 72.20%.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in New Residential Investment Corp. by 39,965.7% in the first quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock worth $451,177,000 after buying an additional 26,504,822 shares during the last quarter. Vanguard Group Inc. raised its stake in New Residential Investment Corp. by 28.9% in the first quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock worth $421,421,000 after buying an additional 5,571,198 shares during the last quarter. Wellington Management Group LLP acquired a new stake in New Residential Investment Corp. during the first quarter worth $59,515,000. Renaissance Technologies LLC acquired a new stake in New Residential Investment Corp. during the first quarter worth $49,637,000. Finally, Whitebox Advisors LLC acquired a new stake in New Residential Investment Corp. during the first quarter worth $41,328,000. 54.73% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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