Piper Jaffray Companies reissued their buy rating on shares of New Residential Investment Corp. (NYSE:NRZ) in a research note released on Sunday. The brokerage currently has a $18.00 price objective on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. ValuEngine raised shares of New Residential Investment Corp. from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of New Residential Investment Corp. from a buy rating to a sell rating in a research note on Wednesday, July 5th. Vetr downgraded shares of New Residential Investment Corp. from a buy rating to a hold rating and set a $17.58 target price on the stock. in a research note on Monday, May 1st. FBR & Co reaffirmed an outperform rating and issued a $17.50 target price on shares of New Residential Investment Corp. in a research note on Tuesday, May 2nd. Finally, BidaskClub raised shares of New Residential Investment Corp. from a hold rating to a buy rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $16.84.

Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 16.48 on Friday. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86. The stock’s 50 day moving average is $16.27 and its 200 day moving average is $16.48. The company has a market capitalization of $5.07 billion, a PE ratio of 5.85 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 EPS for the quarter, topping the consensus estimate of $0.55 by $0.48. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. The company had revenue of $356.80 million for the quarter, compared to the consensus estimate of $202.40 million. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities research analysts anticipate that New Residential Investment Corp. will post $2.57 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of New Residential Investment Corp. by 43.9% in the first quarter. Nisa Investment Advisors LLC now owns 69,790 shares of the real estate investment trust’s stock worth $1,185,000 after buying an additional 21,290 shares during the last quarter. James Investment Research Inc. bought a new position in shares of New Residential Investment Corp. during the first quarter worth about $153,000. Nationwide Fund Advisors increased its position in shares of New Residential Investment Corp. by 15.2% in the first quarter. Nationwide Fund Advisors now owns 173,455 shares of the real estate investment trust’s stock worth $2,945,000 after buying an additional 22,906 shares during the last quarter. Profund Advisors LLC increased its position in shares of New Residential Investment Corp. by 6.2% in the first quarter. Profund Advisors LLC now owns 19,823 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 1,161 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of New Residential Investment Corp. by 56.1% in the first quarter. Janney Montgomery Scott LLC now owns 88,548 shares of the real estate investment trust’s stock worth $1,504,000 after buying an additional 31,811 shares during the last quarter. 47.81% of the stock is currently owned by institutional investors and hedge funds.

About New Residential Investment Corp.

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

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

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