New Residential Investment Corp. (NYSE:NRZ) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They currently have a $17.14 price target on the real estate investment trust’s stock. Vetr‘s price target suggests a potential upside of 3.75% from the stock’s current price.

Several other analysts also recently issued reports on the company. Piper Jaffray Companies restated a “buy” rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a report on Sunday, August 27th. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a report on Thursday, August 3rd. ValuEngine upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $16.89.

Shares of New Residential Investment Corp. (NYSE NRZ) opened at 16.52 on Wednesday. The firm’s 50 day moving average is $16.54 and its 200 day moving average is $16.51. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86. The firm has a market capitalization of $5.08 billion, a PE ratio of 5.86 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last issued its quarterly 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 firm had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $202.40 million. During the same period in the previous year, the business earned $0.52 earnings per share. Analysts anticipate that New Residential Investment Corp. will post $2.58 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Navellier & Associates Inc increased its holdings in shares of New Residential Investment Corp. by 2.8% in the 2nd quarter. Navellier & Associates Inc now owns 44,910 shares of the real estate investment trust’s stock valued at $699,000 after purchasing an additional 1,220 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of New Residential Investment Corp. by 1,152.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 149,734 shares of the real estate investment trust’s stock valued at $2,330,000 after purchasing an additional 137,783 shares during the period. Americafirst Capital Management LLC acquired a new position in shares of New Residential Investment Corp. in the 2nd quarter valued at about $268,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of New Residential Investment Corp. in the 2nd quarter valued at about $1,968,000. Finally, Caxton Associates LP increased its holdings in shares of New Residential Investment Corp. by 13.7% in the 2nd quarter. Caxton Associates LP now owns 36,100 shares of the real estate investment trust’s stock valued at $562,000 after purchasing an additional 4,356 shares during the period. Institutional investors own 47.81% of the company’s stock.

New Residential Investment Corp. Company Profile

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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