Q1 2021 EPS Estimates for New Residential Investment Corp Boosted by Analyst (NYSE:NRZ)
New Residential Investment Corp (NYSE:NRZ) – Analysts at Piper Sandler boosted their Q1 2021 earnings estimates for shares of New Residential Investment in a report issued on Monday, September 14th. Piper Sandler analyst K. Barker now expects that the real estate investment trust will earn $0.36 per share for the quarter, up from their previous estimate of $0.35. Piper Sandler currently has a “Overweight” rating and a $9.50 target price on the stock. Piper Sandler also issued estimates for New Residential Investment’s Q2 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.31 EPS and FY2021 earnings at $1.43 EPS.
New Residential Investment (NYSE:NRZ) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. New Residential Investment had a positive return on equity of 14.32% and a negative net margin of 74.42%. The company had revenue of $115.80 million for the quarter, compared to analysts’ expectations of $87.87 million.
Shares of NYSE NRZ opened at $7.91 on Wednesday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -2.80 and a beta of 1.75. The business has a 50 day simple moving average of $7.84 and a 200 day simple moving average of $7.71. New Residential Investment has a 52 week low of $2.91 and a 52 week high of $17.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.41 and a current ratio of 0.41.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of New Residential Investment by 192.9% during the first quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 5,005 shares during the last quarter. Federated Hermes Inc. acquired a new stake in New Residential Investment in the 1st quarter valued at approximately $44,000. Wealthstar Advisors LLC acquired a new stake in New Residential Investment in the 1st quarter valued at approximately $50,000. Highlander Capital Management LLC acquired a new stake in New Residential Investment in the 1st quarter valued at approximately $51,000. Finally, PNC Financial Services Group Inc. raised its position in New Residential Investment by 26.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,266 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 2,157 shares during the last quarter. Institutional investors own 45.59% of the company’s stock.
In related news, Director Alan L. Tyson acquired 10,000 shares of the company’s stock in a transaction on Monday, July 27th. The stock was purchased at an average cost of $7.72 per share, for a total transaction of $77,200.00. Following the completion of the purchase, the director now directly owns 149,158 shares of the company’s stock, valued at approximately $1,151,499.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.68% of the company’s stock.
New Residential Investment Company Profile
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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