New Residential Investment Corp. (NRZ) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of New Residential Investment Corp. (NYSE:NRZ) from a buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “

NRZ has been the topic of several other research reports. Piper Jaffray Companies restated a buy rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. BidaskClub upgraded shares of New Residential Investment Corp. from a hold rating to a buy rating in a research report on Tuesday, August 1st. FBR & Co reaffirmed a buy rating and set a $17.50 target price on shares of New Residential Investment Corp. in a research note on Monday, October 9th. ValuEngine lowered shares of New Residential Investment Corp. from a strong-buy rating to a buy rating in a research note on Friday, September 15th. Finally, Vetr lowered shares of New Residential Investment Corp. from a buy rating to a hold rating and set a $16.55 target price on the stock. in a research note on Thursday, July 20th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $17.93.

Shares of New Residential Investment Corp. (NYSE NRZ) traded up $0.09 during trading hours on Wednesday, reaching $17.43. 2,895,692 shares of the company’s stock traded hands, compared to its average volume of 3,813,002. New Residential Investment Corp. has a 1 year low of $14.30 and a 1 year high of $17.91. The company has a market cap of $5,360.00, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 6.54 and a beta of 1.04.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $291.66 million. New Residential Investment Corp. had a net margin of 60.06% and a return on equity of 19.38%. The business’s quarterly revenue was up 72.1% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. equities research analysts predict that New Residential Investment Corp. will post 2.67 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 2nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 11.47%. The ex-dividend date was Friday, September 29th. New Residential Investment Corp.’s payout ratio is currently 64.72%.

Several hedge funds and other institutional investors have recently modified their holdings of NRZ. James Investment Research Inc. lifted its stake in shares of New Residential Investment Corp. by 798.3% in the second quarter. James Investment Research Inc. now owns 80,845 shares of the real estate investment trust’s stock worth $1,258,000 after buying an additional 71,845 shares in the last quarter. Visionary Asset Management Inc. bought a new position in shares of New Residential Investment Corp. in the second quarter worth approximately $307,000. Aperio Group LLC lifted its stake in shares of New Residential Investment Corp. by 3.5% in the second quarter. Aperio Group LLC now owns 44,191 shares of the real estate investment trust’s stock worth $688,000 after buying an additional 1,490 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 worth $245,000 after buying an additional 100 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of New Residential Investment Corp. in the second quarter worth approximately $612,000. Hedge funds and other institutional investors own 47.97% of the company’s stock.

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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