New Residential Investment (NRZ) PT Set at $19.00 by B. Riley

New Residential Investment (NYSE:NRZ) received a $19.00 price objective from research analysts at B. Riley in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price points to a potential upside of 12.09% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Vetr cut New Residential Investment from a “strong-buy” rating to a “buy” rating and set a $18.60 target price on the stock. in a report on Tuesday. ValuEngine cut New Residential Investment from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Wedbush raised New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Thursday, January 18th. Zacks Investment Research cut New Residential Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, FBR & Co reaffirmed a “buy” rating and set a $19.25 target price on shares of New Residential Investment in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. New Residential Investment has a consensus rating of “Buy” and an average target price of $18.61.

New Residential Investment (NYSE:NRZ) traded up $0.31 during trading on Tuesday, hitting $16.95. The company’s stock had a trading volume of 3,774,512 shares, compared to its average volume of 4,665,138. The company has a market cap of $5,620.00, a price-to-earnings ratio of 5.47 and a beta of 0.92. New Residential Investment has a twelve month low of $15.04 and a twelve month high of $18.43.

New Residential Investment (NYSE:NRZ) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. During the same quarter in the prior year, the firm earned $0.62 EPS. research analysts predict that New Residential Investment will post 2.73 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRZ. BlackRock Inc. boosted its holdings in shares of New Residential Investment by 39,965.7% in the first quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock valued at $451,177,000 after purchasing an additional 26,504,822 shares during the period. Vanguard Group Inc. boosted its holdings in shares of New Residential Investment by 28.9% in the first quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after purchasing an additional 5,571,198 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of New Residential Investment in the fourth quarter valued at approximately $48,185,000. Wellington Management Group LLP purchased a new stake in shares of New Residential Investment in the first quarter valued at approximately $59,515,000. Finally, EJF Capital LLC purchased a new stake in shares of New Residential Investment in the third quarter valued at approximately $43,745,000. 45.28% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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