Shares of New Residential Investment Corp (NYSE:NRZ) have received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.70.

Several research firms have recently weighed in on NRZ. B. Riley set a $19.00 price objective on shares of New Residential Investment and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a research report on Monday, August 19th. ValuEngine cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Zacks Investment Research cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, BTIG Research initiated coverage on shares of New Residential Investment in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company.

Shares of NRZ traded up $0.14 during trading hours on Friday, hitting $15.13. 2,243,998 shares of the stock were exchanged, compared to its average volume of 3,102,191. New Residential Investment has a fifty-two week low of $13.63 and a fifty-two week high of $18.32. The business has a 50-day moving average of $14.62 and a 200-day moving average of $15.80. The firm has a market capitalization of $6.30 billion, a P/E ratio of 6.36 and a beta of 1.10.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. The firm had revenue of $188.04 million for the quarter, compared to analyst estimates of $240.28 million. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that New Residential Investment will post 2.15 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in New Residential Investment by 1.4% in the second quarter. Vanguard Group Inc. now owns 37,929,329 shares of the real estate investment trust’s stock worth $583,732,000 after purchasing an additional 525,425 shares during the period. BlackRock Inc. grew its holdings in New Residential Investment by 3.9% in the second quarter. BlackRock Inc. now owns 25,928,104 shares of the real estate investment trust’s stock worth $399,033,000 after purchasing an additional 983,142 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in New Residential Investment by 16.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 8,278,265 shares of the real estate investment trust’s stock worth $139,986,000 after purchasing an additional 1,174,300 shares during the period. UBS Group AG grew its holdings in New Residential Investment by 20.2% in the second quarter. UBS Group AG now owns 5,893,173 shares of the real estate investment trust’s stock worth $90,696,000 after purchasing an additional 989,905 shares during the period. Finally, Balyasny Asset Management LLC grew its holdings in New Residential Investment by 44.7% in the second quarter. Balyasny Asset Management LLC now owns 5,259,116 shares of the real estate investment trust’s stock worth $80,938,000 after purchasing an additional 1,624,073 shares during the period. Institutional investors and hedge funds own 53.13% of the company’s stock.

About New Residential Investment

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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