New Residential Investment Corp. (NRZ) Receives $16.89 Average PT from Analysts

Shares of New Residential Investment Corp. (NYSE:NRZ) have been assigned an average rating of “Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.89.

A number of analysts have recently weighed in on the company. Vetr upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.14 price target on the stock in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price target on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.00 price target on shares of New Residential Investment Corp. in a research report on Thursday, August 3rd. Finally, ValuEngine upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st.

New Residential Investment Corp. (NYSE NRZ) remained flat at $16.36 on Wednesday. The company had a trading volume of 1,579,824 shares. The firm has a 50 day moving average of $16.53 and a 200 day moving average of $16.51. New Residential Investment Corp. has a 52-week low of $13.30 and a 52-week high of $17.86. The stock has a market cap of $5.03 billion, a P/E ratio of 5.81 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.48. The business had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $202.40 million. New Residential Investment Corp. had a return on equity of 19.02% and a net margin of 55.85%. During the same period in the prior year, the firm earned $0.52 EPS. On average, analysts expect that New Residential Investment Corp. will post $2.58 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Navellier & Associates Inc increased its position in New Residential Investment Corp. by 2.8% in the 2nd quarter. Navellier & Associates Inc now owns 44,910 shares of the real estate investment trust’s stock valued at $699,000 after acquiring an additional 1,220 shares during the period. Public Employees Retirement System of Ohio increased its position in New Residential Investment Corp. by 1,152.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 149,734 shares of the real estate investment trust’s stock valued at $2,330,000 after acquiring an additional 137,783 shares during the period. Americafirst Capital Management LLC acquired a new stake in New Residential Investment Corp. in the 2nd quarter valued at approximately $268,000. Arrowstreet Capital Limited Partnership acquired a new stake in New Residential Investment Corp. in the 2nd quarter valued at approximately $1,968,000. Finally, Caxton Associates LP increased its position in New Residential Investment Corp. by 13.7% in the 2nd quarter. Caxton Associates LP now owns 36,100 shares of the real estate investment trust’s stock valued at $562,000 after acquiring an additional 4,356 shares during the period. Hedge funds and other institutional investors own 47.81% of the company’s stock.

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New Residential Investment Corp. 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.

Analyst Recommendations for New Residential Investment Corp. (NYSE:NRZ)

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