New Residential Investment Corp. (NYSE:NRZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “

Several other brokerages also recently weighed in on NRZ. ValuEngine raised shares of New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Vetr downgraded shares of New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 price objective on the stock. in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a report on Thursday, August 3rd. FBR & Co reissued an “outperform” rating and set a $17.50 price objective on shares of New Residential Investment Corp. in a report on Tuesday, May 2nd. Finally, BidaskClub raised shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. New Residential Investment Corp. presently has an average rating of “Buy” and an average target price of $16.62.

New Residential Investment Corp. (NYSE NRZ) traded up 0.36% during midday trading on Friday, reaching $16.56. 2,173,274 shares of the company’s stock traded hands. The company has a market capitalization of $5.09 billion, a PE ratio of 5.88 and a beta of 1.02. The firm’s 50 day moving average price is $16.09 and its 200-day moving average price is $16.43. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86.

New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million for the quarter, compared to the consensus estimate of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities analysts expect that New Residential Investment Corp. will post $2.46 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in NRZ. Creative Planning increased its stake in New Residential Investment Corp. by 12.2% in the first quarter. Creative Planning now owns 58,822 shares of the real estate investment trust’s stock worth $999,000 after buying an additional 6,386 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of New Residential Investment Corp. during the first quarter valued at about $3,755,000. Telemus Capital LLC increased its stake in shares of New Residential Investment Corp. by 11.6% in the first quarter. Telemus Capital LLC now owns 262,745 shares of the real estate investment trust’s stock valued at $4,461,000 after buying an additional 27,390 shares during the period. Orinda Asset Management LLC increased its stake in shares of New Residential Investment Corp. by 358.3% in the first quarter. Orinda Asset Management LLC now owns 275,000 shares of the real estate investment trust’s stock valued at $4,670,000 after buying an additional 215,000 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of New Residential Investment Corp. by 43.9% in the first quarter. Nisa Investment Advisors LLC now owns 69,790 shares of the real estate investment trust’s stock valued at $1,185,000 after buying an additional 21,290 shares during the period. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Corp. Company Profile

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

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