New Residential Investment (NRZ) Rating Lowered to Buy at Vetr
New Residential Investment (NYSE:NRZ) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. 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 9.28% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. B. Riley set a $19.00 target price on New Residential Investment and gave the company a “buy” rating in a report on Tuesday, February 13th. ValuEngine downgraded New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Wedbush upgraded New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. 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 $17.02 on Monday. The firm has a market capitalization of $5,710.00, a price-to-earnings ratio of 5.51 and a beta of 0.96. New Residential Investment has a twelve month low of $15.04 and a twelve month high of $18.43.
Institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. bought a new position in shares of New Residential Investment in the 4th quarter valued at $115,000. Ffcm LLC lifted its stake in shares of New Residential Investment by 673.4% in the 3rd quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 6,074 shares during the last quarter. Cadence Capital Management LLC bought a new position in shares of New Residential Investment in the 3rd quarter valued at $170,000. Highlander Capital Management LLC lifted its stake in shares of New Residential Investment by 250.0% in the 3rd quarter. Highlander Capital Management LLC now owns 10,500 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 7,500 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in New Residential Investment during the 3rd quarter worth $177,000. Institutional investors own 48.53% of the company’s stock.
New Residential Investment 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.
To view Vetr’s full report, visit Vetr’s official website.
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