Vetr upgraded shares of New Residential Investment Corp. (NYSE:NRZ) from a hold rating to a buy rating in a research report report published on Monday morning. Vetr currently has $17.72 target price on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on NRZ. ValuEngine upgraded shares of New Residential Investment Corp. from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a buy rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a research report on Thursday, August 3rd. BidaskClub upgraded shares of New Residential Investment Corp. from a hold rating to a buy rating in a research report on Tuesday, August 1st. Wedbush downgraded shares of New Residential Investment Corp. from an outperform rating to a neutral rating and lowered their price objective for the company from $17.00 to $16.50 in a research report on Tuesday, June 20th. Finally, Piper Jaffray Companies restated a buy rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $16.97.

New Residential Investment Corp. (NYSE:NRZ) opened at 17.27 on Monday. New Residential Investment Corp. has a 52-week low of $13.62 and a 52-week high of $17.86. The company has a market cap of $5.31 billion, a PE ratio of 6.13 and a beta of 1.03. The firm’s 50 day moving average is $16.69 and its 200 day moving average is $16.51.

New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.48. The firm had revenue of $356.80 million for the quarter, compared to the consensus estimate of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts forecast that New Residential Investment Corp. will post $2.56 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Monday, October 2nd will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 11.58%. New Residential Investment Corp.’s dividend payout ratio (DPR) is 72.20%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRZ. IFP Advisors Inc raised its position in New Residential Investment Corp. by 9.6% in the second quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 629 shares during the period. Penserra Capital Management LLC raised its position in New Residential Investment Corp. by 8.4% in the second quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 593 shares during the period. Public Employees Retirement Association of Colorado bought a new position in New Residential Investment Corp. in the second quarter worth approximately $150,000. Laurion Capital Management LP bought a new position in New Residential Investment Corp. in the second quarter worth approximately $166,000. Finally, Janus Henderson Group PLC bought a new position in New Residential Investment Corp. in the second quarter worth approximately $168,000. Institutional investors and hedge funds own 48.12% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

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

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