New Residential Investment Corp. (NYSE:NRZ) Receives Consensus ‘Moderate Buy’ Rating from Analysts
Shares of New Residential Investment Corp. (NYSE:NRZ – Get Rating) received a consensus rating of “Moderate Buy” from the eight research firms that currently cover the company, MarketBeat reports. One equity research analyst rated the stock with a sell rating and seven issued a buy rating on the company. The 1-year average price target among brokers who updated their coverage on the stock in the past year is $12.20.
A number of analysts have recently released reports on the company. Raymond James raised its price target on new residential investments from $13.00 to $13.50 and gave the stock an “outperform” rating in a Tuesday, March 29 research note. Piper Sandler downgraded New Residential Investment from a “neutral” rating to an “underweight” rating and lowered its price target for the stock from $12.00 to $10.00 in a Monday research note June 13. Finally, StockNews.com upgraded New Residential Investment from a “hold” rating to a “buy” rating in a Monday, May 9 research rating.
Major investors have recently been buying and selling shares of the company. TCI Wealth Advisors Inc. increased its holdings of New Residential Investment stocks by 311.1% in Q1. TCI Wealth Advisors Inc. now owns 2,454 shares of the real estate investment trust worth $27,000 after purchasing an additional 1,857 shares during the period. Quent Capital LLC increased its stake in New Residential Investment by 468.2% during the 1st quarter. Quent Capital LLC now owns 2,801 shares of the real estate investment trust worth $31,000 after buying 2,308 additional shares in the last quarter. National Bank Huntington acquired a new position in new residential investments during the 4th quarter worth $32,000. UMB Bank NA MO acquired a new position in New Residential Investment during the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. increased its stake in New Residential Investment by 207.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust worth $36,000 after buying 2,245 additional shares in the last quarter. Institutional investors hold 46.48% of the company’s shares.
NRZ opened at $9.48 on Tuesday. The company has a market capitalization of $4.43 billion, a P/E ratio of 4.19 and a beta of 1.67. The company has a 50-day moving average of $10.37 and a 200-day moving average of $10.52. The company has a debt ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44. New Residential Investment has a fifty-two week low of $8.18 and a fifty-two week high of $11.81.
New Residential Investment (NYSE:NRZ – Get Rating) last released its results on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.37 for the quarter, beating analysts’ consensus estimate of $0.35 by $0.02. New Residential Investments generated a net margin of 28.82% and a return on equity of 13.84%. In the same quarter last year, the company earned $0.34 per share. Equity research analysts expect new residential investments to post 1.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Friday, July 1 will receive a dividend of $0.25. The ex-dividend date is Thursday, June 30. This represents a dividend of $1.00 on an annualized basis and a yield of 10.55%. The New Residential Investment dividend payout rate is currently 44.25%.
New Home Investment Business Profile (Get a rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.
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