New Residential Investment Corp. (NYSE:NRZ) Given Average Recommendation of “Buy” by Analysts
New Residential Investment Corp. (NYSE:NRZ – Get Rating) has earned an average recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.20.
NRZ has been the topic of several recent research reports. Piper Sandler downgraded New Residential Investment from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $12.00 to $10.00 in a report on Monday. StockNews.com upgraded New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, Raymond James increased their target price on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, March 29th.
Institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY grew its holdings 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 purchasing an additional 828 shares during the period. FMR LLC boosted its position in shares of New Residential Investment by 62.2% during the 1st quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock worth $13,189,000 after purchasing an additional 299,097 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of 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 buying an additional 84,355 shares during the period. Morgan Stanley increased its position in New Residential Investment by 40.6% in the 2nd quarter. Morgan Stanley now owns 2,770,097 shares of the real estate investment trust’s stock valued at $29,335,000 after buying an additional 800,566 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in New Residential Investment by 858.7% during the 3rd quarter. Franklin Resources Inc. now owns 210,227 shares of the real estate investment trust’s stock worth $2,313,000 after buying an additional 188,299 shares during the period. Institutional investors own 46.48% of the company’s stock.
Shares of NYSE NRZ opened at $8.25 on Friday. The company has a 50 day simple moving average of $10.73 and a 200 day simple moving average of $10.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.44. New Residential Investment has a 1 year low of $8.18 and a 1 year high of $11.81. The firm has a market cap of $3.85 billion, a PE ratio of 3.65 and a beta of 1.66.
New Residential Investment (NYSE:NRZ – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share (EPS) 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 in the prior year, the company earned $0.34 earnings per share. As a group, research analysts anticipate that New Residential Investment will post 1.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Monday, April 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.12%. The ex-dividend date of this dividend was Friday, April 1st. New Residential Investment’s payout ratio is 44.25%.
About New Residential Investment (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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