New Residential Investment (NYSE:NRZ) Earns Buy Rating from Analysts at Compass Point

Compass Point began coverage on shares of New Residential Investment (NYSE:NRZ) in a research report sent to investors on Monday, Benzinga reports. The brokerage issued a buy rating and a $19.00 target price on the real estate investment trust’s stock.

Several other analysts also recently weighed in on NRZ. Zacks Investment Research upgraded shares of New Residential Investment from a sell rating to a hold rating in a research report on Friday, November 1st. ValuEngine raised New Residential Investment from a sell rating to a hold rating in a report on Wednesday, October 2nd. B. Riley set a $18.50 price objective on shares of New Residential Investment and gave the company a buy rating in a research note on Friday, October 25th. Wedbush reiterated an outperform rating on shares of New Residential Investment in a research note on Monday, August 19th. Finally, Piper Jaffray Companies downgraded New Residential Investment from an overweight rating to a neutral rating and set a $16.00 target price on the stock. in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $18.14.

NRZ stock opened at $15.69 on Monday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.59 and a beta of 1.07. New Residential Investment has a 1 year low of $13.63 and a 1 year high of $17.47. The stock’s fifty day moving average is $15.64 and its two-hundred day moving average is $15.35.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Friday, October 25th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $202.23 million for the quarter, compared to the consensus estimate of $227.21 million. New Residential Investment had a return on equity of 12.69% and a net margin of 19.60%. During the same quarter in the prior year, the company posted $0.63 EPS. Analysts predict that New Residential Investment will post 2.07 EPS for the current fiscal year.

In other New Residential Investment news, Director Robert Mcginnis acquired 4,500 shares of New Residential Investment stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $15.73 per share, with a total value of $70,785.00. Following the acquisition, the director now owns 61,243 shares of the company’s stock, valued at $963,352.39. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. lifted its stake in New Residential Investment by 34.1% during the second quarter. First Allied Advisory Services Inc. now owns 34,200 shares of the real estate investment trust’s stock worth $526,000 after purchasing an additional 8,704 shares during the period. Atria Investments LLC bought a new stake in shares of New Residential Investment in the 2nd quarter valued at approximately $10,788,000. Catalyst Capital Advisors LLC grew its stake in shares of New Residential Investment by 63.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 11,910 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 4,620 shares during the period. Strs Ohio raised its holdings in shares of New Residential Investment by 12.8% in the 2nd quarter. Strs Ohio now owns 40,072 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 4,538 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of New Residential Investment by 1.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 333,998 shares of the real estate investment trust’s stock worth $5,236,000 after buying an additional 4,174 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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