New Residential Investment (NYSE:NRZ) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. They currently have a $18.60 price target on the real estate investment trust’s stock. Vetr‘s target price suggests a potential upside of 10.52% from the stock’s previous close.

A number of other research firms have also recently weighed in on NRZ. Barclays lifted their price target on New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, October 24th. Zacks Investment Research cut New Residential Investment from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. ValuEngine cut New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. B. Riley reaffirmed a “buy” rating on shares of New Residential Investment in a report on Wednesday, November 1st. Finally, FBR & Co reissued a “buy” rating and set a $19.25 target price on shares of New Residential Investment in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. New Residential Investment currently has an average rating of “Buy” and an average price target of $18.61.

Shares of New Residential Investment (NYSE:NRZ) opened at $16.83 on Tuesday. The firm has a market capitalization of $5,590.00, a P/E ratio of 5.39 and a beta of 0.92. New Residential Investment has a twelve month low of $15.04 and a twelve month high of $18.43.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. The company had revenue of $235.27 million for the quarter, compared to analysts’ expectations of $178.15 million. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. During the same quarter in the previous year, the company posted $0.62 earnings per share. sell-side analysts predict that New Residential Investment will post 2.73 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Navellier & Associates Inc raised its holdings in New Residential Investment by 2.8% during the second quarter. Navellier & Associates Inc now owns 44,910 shares of the real estate investment trust’s stock worth $699,000 after purchasing an additional 1,220 shares in the last quarter. Commonwealth Equity Services Inc raised its holdings in New Residential Investment by 4.1% during the third quarter. Commonwealth Equity Services Inc now owns 79,794 shares of the real estate investment trust’s stock worth $1,334,000 after purchasing an additional 3,124 shares in the last quarter. IFP Advisors Inc raised its holdings in New Residential Investment by 46.3% during the third quarter. IFP Advisors Inc now owns 10,525 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 3,331 shares in the last quarter. Brookstone Capital Management raised its holdings in New Residential Investment by 18.8% during the third quarter. Brookstone Capital Management now owns 21,158 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 3,342 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in New Residential Investment by 0.3% during the third quarter. Eagle Asset Management Inc. now owns 1,071,449 shares of the real estate investment trust’s stock worth $18,150,000 after purchasing an additional 3,387 shares in the last quarter. 45.28% of the stock is currently owned by hedge funds and other institutional investors.

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About New Residential Investment

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 (NYSE:NRZ)

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