Weekly Analysts’ Ratings Changes for New Residential Investment (NRZ)

Several analysts have recently updated their ratings and price targets for New Residential Investment (NYSE: NRZ):

  • 9/6/2019 – New Residential Investment is now covered by analysts at BTIG Research. They set a “buy” rating and a $18.00 price target on the stock.
  • 9/3/2019 – New Residential Investment was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/29/2019 – New Residential Investment was given a new $19.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 8/27/2019 – New Residential Investment was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/21/2019 – New Residential Investment was given a new $19.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 8/19/2019 – New Residential Investment had its “outperform” rating reaffirmed by analysts at Wedbush.
  • 7/18/2019 – New Residential Investment was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

Shares of NYSE:NRZ opened at $14.81 on Tuesday. The business has a fifty day moving average of $14.68 and a 200-day moving average of $15.86. New Residential Investment Corp has a twelve month low of $13.63 and a twelve month high of $18.62. The firm has a market cap of $5.95 billion, a PE ratio of 6.22 and a beta of 1.10.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $188.04 million for the quarter, compared to the consensus estimate of $240.28 million. New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. During the same period in the prior year, the company earned $0.58 EPS. On average, analysts predict that New Residential Investment Corp will post 2.15 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of New Residential Investment by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 4,380,624 shares of the real estate investment trust’s stock valued at $62,408,000 after purchasing an additional 549,115 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in New Residential Investment by 2.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,768 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 651 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in New Residential Investment by 28.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 57,397 shares of the real estate investment trust’s stock valued at $971,000 after buying an additional 12,745 shares during the last quarter. Comerica Bank boosted its position in New Residential Investment by 22.2% in the 1st quarter. Comerica Bank now owns 14,993 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 2,720 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in New Residential Investment by 30.5% in the 1st quarter. Victory Capital Management Inc. now owns 35,534 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 8,297 shares during the last quarter. 53.25% of the stock is owned by institutional investors.

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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