New Residential Investment Corp (NYSE:NRZ) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $17.92 target price on the real estate investment trust’s stock. Vetr‘s price target would suggest a potential upside of 9.33% from the stock’s current price.

A number of other analysts have also weighed in on NRZ. Zacks Investment Research lowered New Residential Investment Corp from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Compass Point upgraded New Residential Investment Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 31st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of New Residential Investment Corp in a research note on Monday, February 6th. Finally, FBR & Co raised their target price on New Residential Investment Corp from $16.75 to $17.50 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. New Residential Investment Corp currently has a consensus rating of “Buy” and a consensus price target of $16.71.

Analyst Recommendations for New Residential Investment Corp (NYSE:NRZ)

New Residential Investment Corp (NYSE:NRZ) traded down 7.66% during mid-day trading on Thursday, reaching $16.39. 29,695,255 shares of the company’s stock traded hands. The stock has a market capitalization of $5.04 billion, a PE ratio of 7.74 and a beta of 0.96. New Residential Investment Corp has a 12 month low of $11.87 and a 12 month high of $17.86. The firm’s 50-day moving average price is $17.00 and its 200 day moving average price is $15.72.

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New Residential Investment Corp (NYSE:NRZ) last announced its earnings results on Tuesday, February 21st. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. New Residential Investment Corp had a return on equity of 15.13% and a net margin of 38.93%. The company earned $231.81 million during the quarter, compared to analyst estimates of $158.30 million. During the same period last year, the company posted $0.52 earnings per share. Equities research analysts predict that New Residential Investment Corp will post $2.11 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Monday, March 27th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 11.71%. This is a positive change from New Residential Investment Corp’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, March 23rd. New Residential Investment Corp’s dividend payout ratio (DPR) is presently 112.20%.

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In other news, CEO Michael Nierenberg acquired 18,600 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $279,000.00. Following the completion of the transaction, the chief executive officer now directly owns 935,352 shares in the company, valued at $14,030,280. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of New Residential Investment Corp by 20.4% in the third quarter. BlackRock Fund Advisors now owns 13,033,899 shares of the real estate investment trust’s stock worth $179,998,000 after buying an additional 2,205,259 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of New Residential Investment Corp by 8.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,441,903 shares of the real estate investment trust’s stock worth $88,963,000 after buying an additional 516,825 shares during the period. State Street Corp boosted its position in shares of New Residential Investment Corp by 2.3% in the fourth quarter. State Street Corp now owns 4,720,622 shares of the real estate investment trust’s stock worth $74,210,000 after buying an additional 104,689 shares during the period. Morgan Stanley boosted its position in shares of New Residential Investment Corp by 11.4% in the third quarter. Morgan Stanley now owns 3,977,297 shares of the real estate investment trust’s stock worth $54,927,000 after buying an additional 405,611 shares during the period. Finally, Northern Trust Corp boosted its position in shares of New Residential Investment Corp by 7.1% in the third quarter. Northern Trust Corp now owns 3,554,895 shares of the real estate investment trust’s stock worth $49,092,000 after buying an additional 235,538 shares during the period. Hedge funds and other institutional investors own 46.29% of the company’s stock.

About New Residential Investment Corp

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

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