New Residential Investment (NRZ) Posts Earnings Results, Beats Expectations By $0.07 EPS

New Residential Investment (NYSE:NRZ) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07, Bloomberg Earnings reports. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. During the same period in the prior year, the business posted $0.62 EPS.

Shares of New Residential Investment (NYSE NRZ) traded up $0.31 during mid-day trading on Tuesday, hitting $16.95. 1,646,522 shares of the company were exchanged, compared to its average volume of 4,630,565. The firm has a market capitalization of $5,530.00, a PE ratio of 5.49 and a beta of 0.92. New Residential Investment has a 52-week low of $15.04 and a 52-week high of $18.43.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date was Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is currently 64.72%.

Several hedge funds have recently made changes to their positions in NRZ. Bank of New York Mellon Corp grew its holdings in New Residential Investment by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock worth $48,058,000 after acquiring an additional 32,892 shares in the last quarter. Bank of Montreal Can grew its holdings in New Residential Investment by 535.6% during the 4th quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after acquiring an additional 2,225,000 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in New Residential Investment by 6.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock worth $33,077,000 after acquiring an additional 114,960 shares in the last quarter. American Assets Capital Advisers LLC grew its holdings in New Residential Investment by 35.6% during the 4th quarter. American Assets Capital Advisers LLC now owns 1,479,504 shares of the real estate investment trust’s stock worth $26,453,000 after acquiring an additional 388,234 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in New Residential Investment by 56.0% during the 3rd quarter. First Trust Advisors LP now owns 1,346,443 shares of the real estate investment trust’s stock worth $22,526,000 after acquiring an additional 483,316 shares in the last quarter. Hedge funds and other institutional investors own 45.28% of the company’s stock.

A number of equities research analysts have recently issued reports on NRZ shares. Barclays boosted their price target on shares of New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price target on the stock in a research note on Thursday, October 26th. FBR & Co reissued a “buy” rating and issued a $19.25 price target on shares of New Residential Investment in a research note on Monday, October 30th. B. Riley reissued a “buy” rating on shares of New Residential Investment in a research note on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $18.64.

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About New Residential Investment

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 for New Residential Investment (NYSE:NRZ)

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