Vetr Upgrades New Residential Investment (NRZ) to “Strong-Buy”

New Residential Investment (NYSE:NRZ) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $18.60 target price on the real estate investment trust’s stock. Vetr‘s price target would suggest a potential upside of 12.25% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating on shares of New Residential Investment in a report on Wednesday, November 1st. ValuEngine downgraded shares of New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. FBR & Co reissued a “buy” rating and issued a $19.25 price target on shares of New Residential Investment in a report on Monday, October 30th. Wedbush raised shares of New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Thursday, January 18th. Finally, Zacks Investment Research downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $18.61.

Shares of New Residential Investment (NYSE NRZ) opened at $16.57 on Thursday. New Residential Investment has a fifty-two week low of $15.04 and a fifty-two week high of $18.43. The stock has a market cap of $5,510.00, a PE ratio of 5.31 and a beta of 0.92.

New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. New Residential Investment had a net margin of 63.01% and a return on equity of 18.73%. The firm had revenue of $235.27 million for the quarter, compared to the consensus estimate of $178.15 million. During the same period in the prior year, the firm posted $0.62 earnings per share. analysts anticipate that New Residential Investment will post 2.18 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of NRZ. Bank of Montreal Can increased its position in shares of New Residential Investment by 535.6% in the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after purchasing an additional 2,225,000 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of New Residential Investment in the third quarter worth approximately $20,913,000. Assetmark Inc. increased its position in shares of New Residential Investment by 11,974.7% in the third quarter. Assetmark Inc. now owns 693,815 shares of the real estate investment trust’s stock worth $11,608,000 after purchasing an additional 688,069 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of New Residential Investment in the fourth quarter worth approximately $11,843,000. Finally, Chicago Equity Partners LLC increased its position in shares of New Residential Investment by 166.6% in the third quarter. Chicago Equity Partners LLC now owns 1,053,610 shares of the real estate investment trust’s stock worth $17,627,000 after purchasing an additional 658,360 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.

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About New Residential Investment

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.

Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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