New Residential Investment’s (NRZ) “Buy” Rating Reiterated at B. Riley

New Residential Investment (NYSE:NRZ)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a report issued on Monday, 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.

Several other equities analysts also recently issued reports on the company. Compass Point began coverage on New Residential Investment in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. ValuEngine raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised New Residential Investment from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Argus began coverage on New Residential Investment in a research report on Tuesday, December 31st. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Piper Jaffray Companies downgraded New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $18.14.

Shares of NRZ opened at $16.48 on Monday. New Residential Investment has a 12 month low of $13.63 and a 12 month high of $17.34. The stock has a fifty day moving average price of $16.07 and a 200-day moving average price of $15.40. The firm has a market cap of $6.87 billion, a PE ratio of 6.92 and a beta of 1.08.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. The business had revenue of $202.23 million for the quarter, compared to analysts’ expectations of $227.21 million. During the same quarter in the prior year, the company posted $0.63 EPS. Research analysts forecast that New Residential Investment will post 2.09 earnings per share for the current fiscal year.

In other news, Director Robert Mcginnis bought 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $15.73 per share, with a total value of $70,785.00. Following the transaction, the director now directly owns 61,243 shares in the company, valued at $963,352.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC grew its position in 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 worth $576,000 after purchasing an additional 800 shares during the period. Metropolitan Life Insurance Co NY grew its position in 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 worth $164,000 after purchasing an additional 828 shares during the period. United Capital Financial Advisers LLC grew its position in 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 worth $637,000 after purchasing an additional 850 shares during the period. Wiley BROS. Aintree Capital LLC grew its position in 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 worth $597,000 after purchasing an additional 867 shares during the period. Finally, Coastal Investment Advisors Inc. grew its position in 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 worth $125,000 after purchasing an additional 1,000 shares during the period. 51.36% of the stock is currently owned by institutional investors.

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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