FY2017 EPS Estimates for New Residential Investment Corp (NRZ) Reduced by Analyst

New Residential Investment Corp (NYSE:NRZ) – Research analysts at B. Riley dropped their FY2017 EPS estimates for New Residential Investment in a research report issued on Thursday. B. Riley analyst J. Levi-Ribner now forecasts that the real estate investment trust will post earnings per share of $2.73 for the year, down from their prior forecast of $2.74. B. Riley currently has a “Buy” rating and a $19.25 target price on the stock. B. Riley also issued estimates for New Residential Investment’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.53 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.15 EPS.

Other equities analysts have also recently issued reports about the stock. FBR & Co reiterated a “buy” rating and set a $19.25 target price on shares of New Residential Investment in a research note on Monday, October 30th. ValuEngine upgraded shares of New Residential Investment from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 2nd. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 target price for the company in a research note on Monday, October 2nd. Zacks Investment Research cut shares of New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Barclays upped their target price on shares of New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.09.

Shares of New Residential Investment (NYSE NRZ) opened at $17.74 on Friday. The stock has a market cap of $5,450.00, a price-to-earnings ratio of 5.74, a P/E/G ratio of 8.11 and a beta of 1.02. New Residential Investment has a 1-year low of $15.03 and a 1-year high of $18.43.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The business had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. New Residential Investment’s quarterly revenue was up 72.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS.

Large investors have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. raised its stake in shares of New Residential Investment by 203.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 4,060 shares in the last quarter. Ffcm LLC raised its stake in shares of New Residential Investment by 673.4% in the 3rd quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 6,074 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of New Residential Investment in the 2nd quarter valued at $166,000. Janus Henderson Group PLC acquired a new position in shares of New Residential Investment in the 2nd quarter valued at $168,000. Finally, Cadence Capital Management LLC acquired a new position in shares of New Residential Investment in the 3rd quarter valued at $170,000. Hedge funds and other institutional investors own 48.49% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 11.27%. The ex-dividend date of this dividend is Thursday, December 28th. New Residential Investment’s payout ratio is currently 64.72%.

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New Residential Investment Company Profile

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.

Earnings History and Estimates for New Residential Investment (NYSE:NRZ)

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