New Residential Investment Corp (NYSE:NRZ) has been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.00.
NRZ has been the topic of several recent research reports. Piper Jaffray Companies cut shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Thursday, November 14th. ValuEngine raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Compass Point began coverage on New Residential Investment in a research note on Monday. They issued a “buy” rating and a $19.00 price objective for the company. BTIG Research began coverage on New Residential Investment in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 target price for the company. Finally, B. Riley set a $18.50 target price on New Residential Investment and gave the company a “buy” rating in a research report on Friday, October 25th.
New Residential Investment stock traded down $0.10 during trading hours on Thursday, reaching $15.59. 1,368,761 shares of the company’s stock were exchanged, compared to its average volume of 3,012,738. The firm’s 50 day simple moving average is $15.64 and its 200 day simple moving average is $15.35. New Residential Investment has a twelve month low of $13.63 and a twelve month high of $17.47. The firm has a market capitalization of $6.51 billion, a PE ratio of 6.55 and a beta of 1.07.
In related news, Director Robert Mcginnis acquired 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $15.73 per share, for a total transaction of $70,785.00. Following the purchase, the director now owns 61,243 shares in the company, valued at approximately $963,352.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NRZ. Metropolitan Life Insurance Co NY grew its position in New Residential Investment by 9.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 828 shares in the last quarter. FMR LLC increased its stake in New Residential Investment by 62.2% in the 1st quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock valued at $13,189,000 after purchasing an additional 299,097 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in New Residential Investment by 50.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock valued at $4,234,000 after purchasing an additional 84,355 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in New Residential Investment by 10.6% during the second quarter. Nisa Investment Advisors LLC now owns 104,893 shares of the real estate investment trust’s stock worth $1,614,000 after purchasing an additional 10,068 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in New Residential Investment by 301.6% during the second quarter. NEXT Financial Group Inc now owns 41,631 shares of the real estate investment trust’s stock worth $651,000 after purchasing an additional 31,264 shares during the last quarter. Institutional investors own 51.36% 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 and Originations, Residential Securities and Loans, and Consumer Loans 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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