New Residential Investment Corp. (NYSE:NRZ) Lowered to Hold at BidaskClub

New Residential Investment Corp. (NYSE:NRZ) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, June 29th.

Other equities analysts have also recently issued research reports about the stock. FBR & Co restated an “outperform” rating and set a $17.50 target price on shares of New Residential Investment Corp. in a research report on Tuesday, May 2nd. Wedbush cut shares of New Residential Investment Corp. from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $17.00 to $16.50 in a research report on Tuesday, June 20th. Vetr cut shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $17.92 target price for the company. in a research report on Tuesday, April 11th. Zacks Investment Research upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods set a $17.00 price target on shares of New Residential Investment Corp. and gave the stock a “buy” rating in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.51.

New Residential Investment Corp. (NYSE:NRZ) traded down 1.17% during trading on Thursday, reaching $16.04. The company had a trading volume of 2,952,196 shares. The stock has a market capitalization of $4.93 billion, a P/E ratio of 7.87 and a beta of 1.00. New Residential Investment Corp. has a 12-month low of $13.30 and a 12-month high of $17.86. The stock has a 50 day moving average of $16.02 and a 200-day moving average of $16.37.

New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. New Residential Investment Corp. had a net margin of 43.60% and a return on equity of 15.48%. The firm had revenue of $170.60 million during the quarter, compared to analysts’ expectations of $239.83 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was down 21.4% compared to the same quarter last year. On average, analysts forecast that New Residential Investment Corp. will post $2.12 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in shares of New Residential Investment Corp. by 35.6% in the first quarter. IFP Advisors Inc now owns 6,565 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 1,724 shares during the period. Penserra Capital Management LLC boosted its position in shares of New Residential Investment Corp. by 73.2% in the first quarter. Penserra Capital Management LLC now owns 7,038 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,975 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of New Residential Investment Corp. during the second quarter worth $150,000. Acrospire Investment Management LLC boosted its position in shares of New Residential Investment Corp. by 94.3% in the first quarter. Acrospire Investment Management LLC now owns 8,897 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 4,317 shares during the period. Finally, James Investment Research Inc. acquired a new position in shares of New Residential Investment Corp. during the first quarter worth $153,000. 54.78% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Corp. 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.

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

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