Vetr Downgrades New Residential Inv (NRZ) to Buy

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New Residential Inv (NYSE:NRZ) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, March 12th. They presently have a $18.60 price objective on the real estate investment trust’s stock. Vetr‘s price objective would suggest a potential upside of 13.97% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. B. Riley set a $19.00 price objective on shares of New Residential Inv and gave the company a “buy” rating in a research note on Tuesday, February 13th. ValuEngine lowered shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Wedbush upgraded shares of New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of New Residential Inv from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.64.

NYSE NRZ traded down $0.12 during trading hours on Monday, hitting $16.32. 1,577,050 shares of the company’s stock traded hands, compared to its average volume of 3,615,951. New Residential Inv has a 52-week low of $15.04 and a 52-week high of $18.43. The stock has a market cap of $5,482.37, a PE ratio of 5.77 and a beta of 0.91.

New Residential Inv (NYSE:NRZ) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. New Residential Inv had a net margin of 63.01% and a return on equity of 18.73%. The company had revenue of $235.27 million during the quarter, compared to analysts’ expectations of $178.15 million. During the same quarter in the prior year, the company earned $0.62 EPS. research analysts anticipate that New Residential Inv will post 2.19 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Aperio Group LLC lifted its holdings in shares of New Residential Inv by 219.0% in the 3rd quarter. Aperio Group LLC now owns 140,973 shares of the real estate investment trust’s stock worth $2,358,000 after acquiring an additional 96,782 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of New Residential Inv by 11.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 56,826 shares of the real estate investment trust’s stock worth $951,000 after acquiring an additional 5,664 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of New Residential Inv by 327.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 470,800 shares of the real estate investment trust’s stock worth $7,876,000 after acquiring an additional 360,700 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of New Residential Inv by 2.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 282,350 shares of the real estate investment trust’s stock worth $4,724,000 after acquiring an additional 5,540 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of New Residential Inv by 96.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,053,855 shares of the real estate investment trust’s stock worth $17,631,000 after acquiring an additional 518,089 shares during the last quarter. Institutional investors own 48.41% of the company’s stock.

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About New Residential Inv

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 Related Assets, Residential Securities and Loans, and Other Investments 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for New Residential Inv (NYSE:NRZ)

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