New Residential Investment Corp. (NYSE:NRZ) Given Consensus Recommendation of “Buy” by Brokerages

New Residential Investment Corp. (NYSE:NRZ) has received an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.46.

Several brokerages recently weighed in on NRZ. Piper Sandler increased their price objective on shares of New Residential Investment from $11.50 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, April 20th. Jonestrading reiterated a “hold” rating on shares of New Residential Investment in a report on Wednesday, April 21st. BTIG Research increased their target price on shares of New Residential Investment from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, April 16th. Raymond James increased their target price on shares of New Residential Investment from $11.50 to $12.50 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Finally, Royal Bank of Canada initiated coverage on shares of New Residential Investment in a report on Wednesday, March 31st. They issued an “outperform” rating and a $12.00 target price on the stock.

In other New Residential Investment news, CEO Michael Nierenberg bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The stock was acquired at an average price of $10.10 per share, with a total value of $1,010,000.00. Following the completion of the transaction, the chief executive officer now owns 357,028 shares in the company, valued at $3,605,982.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in NRZ. Norges Bank bought a new position in New Residential Investment in the fourth quarter valued at $53,389,000. BlackRock Inc. grew its position in New Residential Investment by 10.4% in the fourth quarter. BlackRock Inc. now owns 27,382,429 shares of the real estate investment trust’s stock valued at $272,182,000 after purchasing an additional 2,580,408 shares in the last quarter. Great Lakes Advisors LLC bought a new position in New Residential Investment in the first quarter valued at $19,084,000. Peregrine Capital Management LLC bought a new position in New Residential Investment in the fourth quarter valued at $13,376,000. Finally, Foundry Partners LLC bought a new position in New Residential Investment in the fourth quarter valued at $11,170,000. 46.54% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE NRZ opened at $9.89 on Thursday. The company’s 50 day simple moving average is $10.74 and its 200 day simple moving average is $9.89. New Residential Investment has a fifty-two week low of $5.30 and a fifty-two week high of $11.48. The firm has a market capitalization of $4.62 billion, a P/E ratio of -3.11 and a beta of 1.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.40 and a quick ratio of 0.40.

New Residential Investment (NYSE:NRZ) last announced its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. New Residential Investment had a negative net margin of 96.73% and a positive return on equity of 14.58%. During the same period last year, the company earned ($0.48) EPS. Sell-side analysts expect that New Residential Investment will post 1.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Monday, April 5th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.09%. New Residential Investment’s payout ratio is 36.87%.

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 five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. 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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