New Residential Investment Corp (NYSE:NRZ) has been given a consensus recommendation of "Buy" by the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.50.
Several analysts have recently weighed in on the stock. B. Riley reissued a "buy" rating and issued a $9.00 price target on shares of New Residential Investment in a research note on Tuesday, June 23rd. Raymond James increased their price objective on shares of New Residential Investment from $8.50 to $10.50 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. ValuEngine raised shares of New Residential Investment from a "strong sell" rating to a "sell" rating in a research report on Monday, September 28th. UBS Group assumed coverage on shares of New Residential Investment in a research report on Thursday, September 24th. They set a "buy" rating and a $11.00 price objective for the company. Finally, Credit Suisse Group reaffirmed a "buy" rating on shares of New Residential Investment in a research report on Thursday, September 17th.
In other New Residential Investment news, Director Alan L. Tyson purchased 10,000 shares of the firm's stock in a transaction on Monday, July 27th. The stock was bought at an average price of $7.72 per share, with a total value of $77,200.00. Following the transaction, the director now directly owns 149,158 shares of the company's stock, valued at approximately $1,151,499.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company's stock.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in New Residential Investment by 192.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 5,005 shares during the period. Federated Hermes Inc. acquired a new stake in shares of New Residential Investment in the 1st quarter valued at $44,000. Highlander Capital Management LLC acquired a new stake in shares of New Residential Investment in the 1st quarter valued at $51,000. Pathstone Family Office LLC acquired a new stake in shares of New Residential Investment in the 1st quarter valued at $63,000. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of New Residential Investment by 199.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 8,116 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 5,410 shares in the last quarter. 45.59% of the stock is owned by institutional investors.
New Residential Investment stock opened at $8.15 on Friday. The firm has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $7.14. New Residential Investment has a 1-year low of $2.91 and a 1-year high of $17.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -2.88 and a beta of 1.70.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. New Residential Investment had a negative net margin of 74.42% and a positive return on equity of 14.32%. The business had revenue of $115.80 million during the quarter, compared to analysts' expectations of $87.87 million. Equities analysts expect that New Residential Investment will post 1.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.36%. The ex-dividend date is Friday, October 2nd. This is a boost from New Residential Investment's previous quarterly dividend of $0.10. New Residential Investment's dividend payout ratio (DPR) is currently 27.65%.
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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