New Residential Investment (NYSE:NRZ) Rating Reiterated by B. Riley

B. Riley restated their buy rating on shares of New Residential Investment (NYSE:NRZ) in a report published on Monday morning, Zacks.com reports. B. Riley also issued estimates for New Residential Investment’s Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.07 EPS, Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $2.10 EPS, Q1 2021 earnings at $0.53 EPS, Q2 2021 earnings at $0.54 EPS, Q3 2021 earnings at $0.54 EPS, Q4 2021 earnings at $0.52 EPS and FY2021 earnings at $2.14 EPS.

NRZ has been the subject of several other reports. Zacks Investment Research upgraded New Residential Investment from a strong sell rating to a hold rating in a research note on Wednesday. Piper Jaffray Companies downgraded New Residential Investment from an overweight rating to a neutral rating and set a $16.00 price target for the company. in a research note on Thursday, November 14th. ValuEngine upgraded New Residential Investment from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Argus started coverage on New Residential Investment in a research note on Tuesday, December 31st. They issued a buy rating and a $18.00 price target for the company. Finally, Compass Point started coverage on New Residential Investment in a research note on Monday, December 2nd. They issued a buy rating and a $19.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $18.14.

NYSE:NRZ opened at $16.48 on Monday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 6.92 and a beta of 1.08. New Residential Investment has a twelve month low of $13.63 and a twelve month high of $17.34. The stock’s 50 day moving average price is $16.07 and its two-hundred day moving average price is $15.40.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $202.23 million for the quarter, compared to analyst estimates of $227.21 million. New Residential Investment had a return on equity of 12.69% and a net margin of 19.60%. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities research analysts forecast that New Residential Investment will post 2.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, December 30th. This represents a $2.00 annualized dividend and a yield of 12.14%. New Residential Investment’s dividend payout ratio (DPR) is presently 84.03%.

In other news, Director Robert Mcginnis purchased 4,500 shares of New Residential Investment stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $15.73 per share, for a total transaction of $70,785.00. Following the purchase, the director now directly owns 61,243 shares of the company’s stock, valued at approximately $963,352.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC lifted its position in shares of New Residential Investment by 2.2% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 36,763 shares of the real estate investment trust’s stock valued at $576,000 after acquiring an additional 800 shares during the period. Metropolitan Life Insurance Co NY lifted its position in shares of New Residential Investment by 9.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 828 shares during the period. United Capital Financial Advisers LLC lifted its position in shares of New Residential Investment by 2.2% during the 2nd quarter. United Capital Financial Advisers LLC now owns 40,191 shares of the real estate investment trust’s stock valued at $637,000 after acquiring an additional 850 shares during the period. Wiley BROS. Aintree Capital LLC lifted its position in shares of New Residential Investment by 2.4% during the 4th quarter. Wiley BROS. Aintree Capital LLC now owns 37,063 shares of the real estate investment trust’s stock valued at $597,000 after acquiring an additional 867 shares during the period. Finally, Coastal Investment Advisors Inc. lifted its position in shares of New Residential Investment by 14.3% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 8,000 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

About New Residential Investment

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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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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