New Residential Investment (NYSE:NRZ)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a note issued to investors on Wednesday. They currently have a $19.25 target price on the real estate investment trust’s stock. B. Riley’s target price suggests a potential upside of 8.94% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on NRZ. ValuEngine upgraded New Residential Investment from a “buy” rating to a “strong-buy” rating in a report on Monday, October 2nd. Vetr raised New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 price target for the company in a research report on Monday, October 2nd. BidaskClub raised New Residential Investment from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. New Residential Investment presently has an average rating of “Buy” and a consensus target price of $18.09.

Shares of New Residential Investment (NYSE NRZ) traded up $0.04 on Wednesday, hitting $17.67. The company had a trading volume of 1,606,888 shares, compared to its average volume of 3,750,260. New Residential Investment has a 12 month low of $15.03 and a 12 month high of $18.00. The company has a market cap of $5,437.22, a PE ratio of 6.25, a P/E/G ratio of 6.63 and a beta of 1.04.

New Residential Investment (NYSE:NRZ) last issued its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. The company had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $291.66 million. During the same period last year, the business earned $0.51 EPS. New Residential Investment’s quarterly revenue was up 72.1% compared to the same quarter last year. sell-side analysts anticipate that New Residential Investment will post 2.67 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new stake in New Residential Investment in the 3rd quarter valued at $366,000. Cetera Advisor Networks LLC increased its position in shares of New Residential Investment by 31.7% during the 3rd quarter. Cetera Advisor Networks LLC now owns 20,375 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 4,899 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of New Residential Investment by 12.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 398,969 shares of the real estate investment trust’s stock valued at $6,675,000 after purchasing an additional 43,840 shares during the last quarter. Highlander Capital Management LLC increased its position in shares of New Residential Investment by 250.0% during the 3rd quarter. Highlander Capital Management LLC now owns 10,500 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 7,500 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of New Residential Investment by 7.1% during the 3rd quarter. California Public Employees Retirement System now owns 524,932 shares of the real estate investment trust’s stock valued at $8,782,000 after purchasing an additional 34,582 shares during the last quarter. 48.66% of the stock is owned by institutional investors and hedge funds.

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New Residential Investment 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.

Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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