Zacks Investment Research downgraded shares of New Residential Investment (NYSE:NRZ) from a hold rating to a sell rating in a report released on Wednesday, January 3rd.

According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “

Several other equities analysts have also weighed in on NRZ. B. Riley reaffirmed a buy rating on shares of New Residential Investment in a research note on Wednesday, November 1st. ValuEngine upgraded New Residential Investment from a buy rating to a strong-buy rating in a report on Monday, October 2nd. Vetr upgraded New Residential Investment from a hold rating to a buy rating and set a $17.72 target price for the company in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a buy rating and issued a $18.00 target price on shares of New Residential Investment in a research report on Thursday, September 14th. Finally, FBR & Co reiterated a buy rating and issued a $19.25 target price on shares of New Residential Investment in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $18.53.

Shares of New Residential Investment (NRZ) traded down $0.16 during mid-day trading on Wednesday, hitting $17.38. The stock had a trading volume of 1,189,661 shares, compared to its average volume of 4,447,956. The stock has a market capitalization of $5,390.00, a PE ratio of 5.62 and a beta of 1.02. New Residential Investment has a twelve month low of $15.03 and a twelve month high of $18.43.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. The business’s revenue for the quarter was up 72.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. equities analysts expect that New Residential Investment will post 2.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.51%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is presently 64.72%.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in New Residential Investment by 1.2% during 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 buying an additional 32,892 shares during the period. Bank of Montreal Can raised its position in New Residential Investment by 535.6% during the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock valued at $47,210,000 after buying an additional 2,225,000 shares during the period. Goldman Sachs Group Inc. raised its position in New Residential Investment by 211.2% during 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 buying an additional 1,457,525 shares during the period. Schwab Charles Investment Management Inc. raised its position in New Residential Investment by 6.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock valued at $33,077,000 after buying an additional 114,960 shares during the period. Finally, American Assets Capital Advisers LLC raised its position in New Residential Investment by 35.6% during the fourth quarter. American Assets Capital Advisers LLC now owns 1,479,504 shares of the real estate investment trust’s stock valued at $26,453,000 after buying an additional 388,234 shares during the period. 45.11% of the stock is currently owned by institutional investors.

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About New Residential Investment

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.

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