FY2017 EPS Estimates for New Residential Investment Corp (NRZ) Reduced by Analyst

New Residential Investment Corp (NYSE:NRZ) – Analysts at B. Riley lowered their FY2017 EPS estimates for shares of New Residential Investment in a research note issued on Thursday. B. Riley analyst J. Levi-Ribner now expects that the real estate investment trust will earn $2.73 per share for the year, down from their prior estimate of $2.74. B. Riley currently has a “Buy” rating and a $19.25 target price on the stock. B. Riley also issued estimates for New Residential Investment’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.53 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.15 EPS.

New Residential Investment (NYSE:NRZ) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $331.38 million for the quarter, compared to the consensus estimate of $291.66 million. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The business’s quarterly revenue was up 72.1% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS.

NRZ has been the topic of several other reports. Zacks Investment Research downgraded shares of New Residential Investment from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Barclays raised their target price on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. FBR & Co reiterated a “buy” rating and issued a $17.50 price objective on shares of New Residential Investment in a report on Monday, October 9th. Vetr downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating and set a $17.72 price objective on the stock. in a report on Monday, October 9th. Finally, ValuEngine upgraded shares of New Residential Investment from a “buy” rating to a “strong-buy” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $18.09.

Shares of New Residential Investment (NYSE NRZ) opened at $17.74 on Friday. The company has a market cap of $5,450.00, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 8.11 and a beta of 1.02. New Residential Investment has a fifty-two week low of $15.03 and a fifty-two week high of $18.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.27%. New Residential Investment’s dividend payout ratio (DPR) is presently 64.72%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of New Residential Investment by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock valued at $48,058,000 after purchasing an additional 32,892 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of New Residential Investment by 211.2% in the second quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after purchasing an additional 1,457,525 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of New Residential Investment by 41.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,734,966 shares of the real estate investment trust’s stock valued at $29,026,000 after purchasing an additional 512,474 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of New Residential Investment by 56.0% in the third quarter. First Trust Advisors LP now owns 1,346,443 shares of the real estate investment trust’s stock valued at $22,526,000 after purchasing an additional 483,316 shares during the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of New Residential Investment in the third quarter valued at approximately $20,913,000. Institutional investors own 48.49% of the company’s stock.

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New Residential Investment Company Profile

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 and Estimates for New Residential Investment (NYSE:NRZ)

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