New Residential Investment (NYSE:NRZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

A number of other brokerages also recently weighed in on NRZ. Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 target price for the company in a research note on Thursday, October 26th. Barclays lifted their price target on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.00 price target on shares of New Residential Investment in a research report on Thursday, September 14th. B. Riley reiterated a “buy” rating on shares of New Residential Investment in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of New Residential Investment from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.09.

Shares of New Residential Investment (NRZ) traded down $0.06 during midday trading on Wednesday, hitting $17.53. 1,450,000 shares of the company’s stock were exchanged, compared to its average volume of 2,230,000. New Residential Investment has a one year low of $15.03 and a one year high of $18.43. The company has a market capitalization of $5,390.00, a P/E ratio of 5.67, a PEG ratio of 8.17 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The company had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 72.1% on a year-over-year basis. equities research analysts expect that New Residential Investment will post 2.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in New Residential Investment by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock valued at $48,058,000 after purchasing an additional 32,892 shares during the period. Goldman Sachs Group Inc. grew its holdings in New Residential Investment by 211.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after purchasing an additional 1,457,525 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in New Residential Investment by 41.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,734,966 shares of the real estate investment trust’s stock valued at $29,026,000 after purchasing an additional 512,474 shares during the period. First Trust Advisors LP grew its holdings in New Residential Investment by 56.0% during the third quarter. First Trust Advisors LP now owns 1,346,443 shares of the real estate investment trust’s stock valued at $22,526,000 after purchasing an additional 483,316 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new position in New Residential Investment during the third quarter valued at approximately $20,913,000. Hedge funds and other institutional investors own 48.49% of the company’s stock.

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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.

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