New Residential Investment (NYSE:NRZ) Shares Gap Down to $15.45

New Residential Investment Corp (NYSE:NRZ)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.97, but opened at $15.45. New Residential Investment shares last traded at $14.76, with a volume of 5,042,639 shares traded.

Several research firms have recently weighed in on NRZ. Wedbush reissued an “outperform” rating on shares of New Residential Investment in a research note on Monday, August 19th. BTIG Research began coverage on shares of New Residential Investment in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. ValuEngine raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies decreased their price target on shares of New Residential Investment from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, B. Riley set a $19.00 price objective on shares of New Residential Investment and gave the stock a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.36.

The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 6.20 and a beta of 1.10. The company’s 50-day moving average is $14.68 and its 200-day moving average is $15.69.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. The firm had revenue of $188.04 million for the quarter, compared to analyst estimates of $240.28 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, analysts expect that New Residential Investment Corp will post 2.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 13.55%. The ex-dividend date of this dividend is Wednesday, October 2nd. New Residential Investment’s payout ratio is currently 84.03%.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. increased its position in shares of New Residential Investment by 34.1% during the second quarter. First Allied Advisory Services Inc. now owns 34,200 shares of the real estate investment trust’s stock valued at $526,000 after acquiring an additional 8,704 shares during the last quarter. Atria Investments LLC acquired a new position in shares of New Residential Investment in the second quarter valued at approximately $10,788,000. Strs Ohio grew its holdings in shares of New Residential Investment by 12.8% in the second quarter. Strs Ohio now owns 40,072 shares of the real estate investment trust’s stock valued at $616,000 after purchasing an additional 4,538 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of New Residential Investment by 16.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 8,278,265 shares of the real estate investment trust’s stock valued at $139,986,000 after purchasing an additional 1,174,300 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of New Residential Investment in the second quarter valued at approximately $1,123,000. Hedge funds and other institutional investors own 53.13% of the company’s stock.

New Residential Investment Company Profile (NYSE:NRZ)

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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