Short Interest in New Residential Investment Corp. (NYSE:NRZ) Declines By 22.1%
New Residential Investment Corp. (NYSE:NRZ – Get Rating) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 8,040,000 shares, a decline of 22.1% from the April 30th total of 10,320,000 shares. Based on an average daily trading volume, of 5,730,000 shares, the days-to-cover ratio is currently 1.4 days.
Several brokerages have recently weighed in on NRZ. Zacks Investment Research downgraded shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 17th. Piper Sandler downgraded shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Thursday, May 5th. Raymond James increased their price objective on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, March 29th. Finally, StockNews.com raised shares of New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, New Residential Investment presently has a consensus rating of “Buy” and an average target price of $12.50.
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Large investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its position in shares of New Residential Investment by 311.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 2,454 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,857 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of New Residential Investment by 468.2% in the first quarter. Quent Capital LLC now owns 2,801 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 2,308 shares during the period. Huntington National Bank acquired a new position in shares of New Residential Investment in the fourth quarter worth about $32,000. UMB Bank N A MO acquired a new position in shares of New Residential Investment in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of New Residential Investment by 207.1% in the fourth quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 2,245 shares during the period. Institutional investors own 46.48% of the company’s stock.
New Residential Investment stock opened at $11.27 on Monday. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 4.99 and a beta of 1.67. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $10.75. New Residential Investment has a 52 week low of $8.98 and a 52 week high of $11.81.
New Residential Investment (NYSE:NRZ – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. New Residential Investment had a net margin of 28.82% and a return on equity of 13.84%. During the same quarter last year, the business posted $0.34 earnings per share. Research analysts expect that New Residential Investment will post 1.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Monday, April 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.87%. New Residential Investment’s dividend payout ratio (DPR) is 44.25%.
New Residential Investment Company Profile (Get Rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans, and Corporate segments. The company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, properties and loans, consumer loans, and other opportunistic investments.
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