New Residential Investment Rating (NYSE: NRZ) Downgraded to Sell at Zacks Investment Research
New residential investment (NYSE: NRZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report released Thursday to clients and investors, Zacks.com reports.
According to Zacks, “New Residential Investment Corp. is a real estate investment trust. She focuses on investing and actively managing investments related to residential real estate. residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “
A number of other equity analysts have also weighed on NRZ recently. Raymond James raised his price target on new residential investments from $ 12.50 to $ 13.00 and gave the stock an “outperformance” rating in a research report on Thursday, May 20. Piper Sandler raised its price target on new residential investments from $ 11.50 to $ 13.00 and rated the stock “overweight” in a research report published on Tuesday, April 20. BTIG Research raised its price target on new residential investment from $ 12.00 to $ 13.00 and gave the stock a “buy” rating in a research report on Friday April 16. Finally, Jonestrading reaffirmed a “conservation” rating on New Residential Investment shares in a research report published on Wednesday, April 21. One research analyst rated the stock with a sell rating, another issued a conservation rating, and twelve assigned a buy rating to the company. The new residential investment has an average rating of “Buy” and a consensus price target of $ 11.58.
NYSE NRZ opened at $ 9.52 on Thursday. The company’s 50-day simple moving average is $ 10.29. The new residential investment has a 52 week low of $ 7.11 and a 52 week high of $ 11.48. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt ratio of 0.11. The company has a market cap of $ 4.44 billion, a PE ratio of 7.56 and a beta of 1.91.
New Residential Investment (NYSE: NRZ) last released its quarterly results on Thursday, July 29. The real estate investment trust reported earnings per share of $ 0.31 for the quarter, hitting analyst consensus estimates of $ 0.31. New residential investment had a return on equity of 13.19% and a net margin of 61.81%. Analysts predict that the new residential investment will show 1.38 EPS for the current fiscal year.
A number of institutional investors have recently changed their positions in NRZ. Harbor Investments Inc. acquired a new stake in New Residential Investment during the 1st quarter valued at $ 25,000. Tradewinds Capital Management LLC acquired a new stake in New Residential Investment during the 2nd quarter valued at $ 26,000. TCI Wealth Advisors Inc. increased its position in new residential investment by 1,807.2% during the second quarter. TCI Wealth Advisors Inc. now owns 3,166 real estate investment trust shares valued at $ 34,000 after purchasing an additional 3,000 shares during the period. Meeder Asset Management Inc. increased its position in new residential investment by 389.2% during the 1st quarter. Meeder Asset Management Inc. now owns 3,840 real estate investment trust shares worth $ 43,000 after purchasing an additional 3,055 shares during the period. Finally, CWM LLC strengthened its position in New Residential Investment by 787.4% during the 1st quarter. CWM LLC now owns 4,242 real estate investment trust shares worth $ 48,000 after purchasing an additional 3,764 shares during the period. 40.36% of the shares are held by institutional investors and hedge funds.
New residential investment company profile
New Residential Investment Corp., a real estate investment trust, focuses on the investment and management of residential mortgage-related assets in the United States. It operates through five segments: assembly, maintenance, MSR-related investments, residential securities and loans, and consumer loans. The company invests in excess mortgage management rights (MSRs) on residential mortgages; and in service advances, including the base charge component of the related SRMs.
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