New Residential Investment Corp. (NRZ) Rating Lowered to Hold at Vetr Inc.

Vetr downgraded shares of New Residential Investment Corp. (NYSE:NRZ) from a buy rating to a hold rating in a research note published on Monday morning. Vetr currently has $17.72 target price on the real estate investment trust’s stock.

NRZ has been the topic of several other reports. ValuEngine cut New Residential Investment Corp. from a strong-buy rating to a buy rating in a research report on Friday, June 30th. Piper Jaffray Companies reaffirmed a buy rating and issued a $18.00 price objective on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. Zacks Investment Research cut New Residential Investment Corp. from a buy rating to a sell rating in a research report on Wednesday, July 5th. BidaskClub cut New Residential Investment Corp. from a buy rating to a hold rating in a research report on Thursday, June 29th. Finally, FBR & Co reaffirmed a buy rating and issued a $17.50 price objective on shares of New Residential Investment Corp. in a research report on Monday, July 10th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $16.97.

Shares of New Residential Investment Corp. (NYSE NRZ) opened at 17.16 on Monday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 6.09 and a beta of 1.03. New Residential Investment Corp. has a 12 month low of $13.63 and a 12 month high of $17.86. The company has a 50-day moving average price of $16.76 and a 200-day moving average price of $16.52.

New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $202.40 million. New Residential Investment Corp. had a return on equity of 19.02% and a net margin of 55.85%. During the same period in the prior year, the firm posted $0.52 EPS. Equities analysts forecast that New Residential Investment Corp. will post $2.56 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was originally posted by Stock Observer and is the property of of Stock Observer. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.thestockobserver.com/2017/10/13/new-residential-investment-corp-nrz-rating-lowered-to-hold-at-vetr-inc.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 11.66%. New Residential Investment Corp.’s payout ratio is 72.20%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRZ. BlackRock Inc. lifted its holdings in shares of New Residential Investment Corp. by 39,965.7% during the 1st quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock valued at $451,177,000 after buying an additional 26,504,822 shares during the period. Vanguard Group Inc. lifted its holdings in shares of New Residential Investment Corp. by 28.9% during the 1st quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after buying an additional 5,571,198 shares during the period. Wellington Management Group LLP bought a new position in shares of New Residential Investment Corp. during the 1st quarter valued at $59,515,000. Renaissance Technologies LLC bought a new position in shares of New Residential Investment Corp. during the 1st quarter valued at $49,637,000. Finally, Whitebox Advisors LLC bought a new position in shares of New Residential Investment Corp. during the 1st quarter valued at $41,328,000. 48.12% of the stock is currently owned by hedge funds and other institutional investors.

About New Residential Investment Corp.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for New Residential Investment Corp. (NYSE:NRZ)

Receive News & Ratings for New Residential Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply