New Residential Investment Corp (NRZ) Receives Average Rating of “Buy” from Analysts

New Residential Investment Corp (NYSE:NRZ) has been given an average rating of “Buy” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.47.

Several analysts recently issued reports on NRZ shares. Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Credit Suisse Group reiterated a “buy” rating and set a $18.00 target price on shares of New Residential Investment in a report on Friday, January 4th.

Shares of New Residential Investment stock traded down $0.01 during trading on Friday, reaching $16.80. The stock had a trading volume of 40,886 shares, compared to its average volume of 4,801,140. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 7.24 and a beta of 1.11. New Residential Investment has a 52 week low of $13.86 and a 52 week high of $18.75.

New Residential Investment (NYSE:NRZ) last released its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. New Residential Investment had a return on equity of 13.88% and a net margin of 57.58%. The business had revenue of $266.00 million for the quarter, compared to analyst estimates of $210.42 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, analysts expect that New Residential Investment will post 2.3 earnings per share for the current fiscal year.

In other New Residential Investment news, CEO Michael Nierenberg acquired 60,000 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were purchased at an average price of $16.50 per share, for a total transaction of $990,000.00. Following the completion of the purchase, the chief executive officer now directly owns 995,352 shares of the company’s stock, valued at $16,423,308. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.93% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC bought a new stake in New Residential Investment in the fourth quarter valued at approximately $26,000. Resources Investment Advisors Inc. bought a new stake in New Residential Investment in the fourth quarter valued at approximately $38,000. Intellectus Partners LLC raised its stake in New Residential Investment by 100.2% in the fourth quarter. Intellectus Partners LLC now owns 3,529 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,766 shares during the period. Enlightenment Research LLC bought a new stake in New Residential Investment in the fourth quarter valued at approximately $63,000. Finally, Essex Savings Bank bought a new stake in New Residential Investment in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.

About New Residential Investment

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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