Zacks Investment Research lowered shares of New Residential Investment (NYSE:NRZ) from a hold rating to a sell rating in a report issued 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. “

Other equities analysts have also issued reports about the stock. B. Riley reaffirmed a buy rating and set a $19.25 target price on shares of New Residential Investment in a report on Wednesday, November 29th. FBR & Co reaffirmed a buy rating and set a $19.25 target price on shares of New Residential Investment in a report on Monday, October 30th. Vetr raised shares of New Residential Investment from a hold rating to a buy rating and set a $17.75 target price for the company in a report on Thursday, October 26th. ValuEngine cut shares of New Residential Investment from a strong-buy rating to a buy rating in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $18.00 price target on shares of New Residential Investment in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. New Residential Investment presently has a consensus rating of Buy and a consensus target price of $18.53.

New Residential Investment (NRZ) traded up $0.11 on Wednesday, reaching $17.24. 8,346,800 shares of the company’s stock were exchanged, compared to its average volume of 5,003,323. The stock has a market cap of $5,360.00, a price-to-earnings ratio of 5.58, a PEG ratio of 7.91 and a beta of 1.02. New Residential Investment has a 12 month low of $15.03 and a 12 month high of $18.43.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $331.38 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.51 EPS. sell-side analysts forecast that New Residential Investment will post 2.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 11.60%. New Residential Investment’s dividend payout ratio is currently 64.72%.

A number of institutional investors and hedge funds have recently made changes to their positions in NRZ. Bank of Montreal Can boosted its stake in New Residential Investment by 535.6% during the 4th quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after purchasing an additional 2,225,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in New Residential Investment by 211.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock worth $33,416,000 after purchasing an additional 1,457,525 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in New Residential Investment during the 3rd quarter worth $20,913,000. Samlyn Capital LLC acquired a new stake in New Residential Investment during the 2nd quarter worth $12,201,000. Finally, Assetmark Inc. boosted its stake in New Residential Investment by 11,974.7% during the 3rd quarter. Assetmark Inc. now owns 693,815 shares of the real estate investment trust’s stock worth $11,608,000 after purchasing an additional 688,069 shares during the last quarter. 49.26% 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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