New Residential Investment Corp. (NYSE:NRZ) – Stock analysts at Wedbush reduced their Q4 2017 earnings per share estimates for New Residential Investment Corp. in a report issued on Wednesday. Wedbush analyst J. Weaver now expects that the real estate investment trust will post earnings of $0.39 per share for the quarter, down from their prior estimate of $0.49. Wedbush has a “Neutral” rating and a $16.50 price objective on the stock.

NRZ has been the subject of several other research reports. ValuEngine downgraded shares of New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 price objective on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. Zacks Investment Research downgraded shares of New Residential Investment Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub downgraded shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, FBR & Co reiterated a “buy” rating and set a $17.50 target price on shares of New Residential Investment Corp. in a research note on Monday, July 10th. Four analysts have rated the stock with a hold rating, seven have issued 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 price target of $16.89.

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Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 16.46 on Thursday. The stock’s 50 day moving average is $16.56 and its 200 day moving average is $16.51. New Residential Investment Corp. has a 12 month low of $13.30 and a 12 month high of $17.86. The stock has a market cap of $5.06 billion, a P/E ratio of 5.84 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million during 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 EPS.

Several hedge funds have recently modified their holdings of NRZ. BlackRock Inc. raised its stake in shares of New Residential Investment Corp. by 39,965.7% in the 1st quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock valued at $451,177,000 after acquiring an additional 26,504,822 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of New Residential Investment Corp. by 28.9% in the 1st quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after acquiring an additional 5,571,198 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of New Residential Investment Corp. in the 1st quarter valued at approximately $59,515,000. Renaissance Technologies LLC bought a new position in shares of New Residential Investment Corp. in the 1st quarter valued at approximately $49,637,000. Finally, Whitebox Advisors LLC bought a new position in shares of New Residential Investment Corp. in the 1st quarter valued at approximately $41,328,000. 47.81% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for New Residential Investment Corp. (NYSE:NRZ)

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