New Residential Investment Corp. (NYSE:NRZ) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research firms have also recently commented on NRZ. Barclays PLC lifted their price target on New Residential Investment Corp. from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. restated an “overweight” rating and issued a $16.00 price target on shares of New Residential Investment Corp. in a report on Friday, September 9th. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Credit Suisse Group AG set a $17.00 price target on New Residential Investment Corp. and gave the company a “buy” rating in a report on Monday, August 8th. Finally, Nomura began coverage on New Residential Investment Corp. in a research note on Wednesday, October 26th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $15.79.

Analyst Recommendations for New Residential Investment Corp. (NYSE:NRZ)

Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 14.35 on Tuesday. The company’s 50 day moving average is $13.93 and its 200-day moving average is $13.75. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 8.76 and a beta of 0.92. New Residential Investment Corp. has a 1-year low of $9.07 and a 1-year high of $14.89.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. New Residential Investment Corp. had a return on equity of 15.13% and a net margin of 38.93%. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts anticipate that New Residential Investment Corp. will post $1.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Monday, October 3rd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 12.82%. The ex-dividend date of this dividend was Thursday, September 29th. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 112.20%.

In related news, Director Andrew Sloves purchased 13,200 shares of New Residential Investment Corp. stock in a transaction that occurred on Friday, November 11th. The shares were purchased at an average cost of $14.22 per share, with a total value of $187,704.00. Following the transaction, the director now owns 700 shares of the company’s stock, valued at approximately $9,954. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NRZ. NEXT Financial Group Inc raised its position in New Residential Investment Corp. by 19.3% in the third quarter. NEXT Financial Group Inc now owns 7,410 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,201 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in New Residential Investment Corp. by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,825 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 801 shares during the period. Baldwin Brothers Inc. MA bought a new position in New Residential Investment Corp. during the third quarter valued at approximately $110,000. PNC Financial Services Group Inc. raised its position in New Residential Investment Corp. by 58.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,737 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 3,954 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in New Residential Investment Corp. by 19.8% in the second quarter. Public Employees Retirement System of Ohio now owns 10,857 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 1,798 shares during the period. 54.14% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company is focused on investing in, and managing, investments related to residential real estate. The Company conducts its business through the segments, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate.

5 Day Chart for NYSE:NRZ

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