New Residential Investment Corp. (NYSE:NRZ) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Several other analysts have also recently weighed in on the company. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price target on shares of New Residential Investment Corp. in a report on Sunday, August 27th. Zacks Investment Research cut New Residential Investment Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Vetr cut New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $16.55 price target for the company. in a report on Thursday, July 20th. Finally, Wedbush cut New Residential Investment Corp. from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $17.00 to $16.50 in a report on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.89.

Shares of New Residential Investment Corp. (NRZ) traded up 0.49% on Friday, hitting $16.53. The company had a trading volume of 2,805,703 shares. New Residential Investment Corp. has a 12-month low of $13.30 and a 12-month high of $17.86. The firm has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.50. The company has a market capitalization of $5.08 billion, a P/E ratio of 5.87 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $202.40 million. New Residential Investment Corp. had a return on equity of 19.02% and a net margin of 55.85%. During the same period last year, the firm posted $0.52 EPS. Equities analysts expect that New Residential Investment Corp. will post $2.56 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in NRZ. IFP Advisors Inc raised its holdings in New Residential Investment Corp. by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 629 shares in the last quarter. Penserra Capital Management LLC raised its holdings in New Residential Investment Corp. by 8.4% in the 2nd quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 593 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in New Residential Investment Corp. in the 2nd quarter valued at $150,000. Laurion Capital Management LP acquired a new position in New Residential Investment Corp. in the 2nd quarter valued at $166,000. Finally, Janus Henderson Group PLC acquired a new position in New Residential Investment Corp. in the 2nd quarter valued at $168,000. 47.81% of the stock is 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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