New Residential Investment (NYSE:NRZ) Downgraded by ValuEngine

ValuEngine lowered shares of New Residential Investment (NYSE:NRZ) from a hold rating to a sell rating in a research report report published on Tuesday morning, ValuEngine reports.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. Nomura lowered their target price on shares of Carnival from $66.00 to $61.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. New Residential Investment has a consensus rating of Hold and an average target price of $19.30.

NRZ stock opened at $15.29 on Tuesday. The stock has a market cap of $6.36 billion, a P/E ratio of 6.42 and a beta of 1.08. New Residential Investment has a 12 month low of $13.86 and a 12 month high of $18.75. The business has a 50-day moving average of $15.66.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $423.08 million for the quarter, compared to the consensus estimate of $403.45 million. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The firm’s revenue was up 62.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. Analysts expect that New Residential Investment will post 2.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 13.08%. The ex-dividend date of this dividend is Friday, June 28th. New Residential Investment’s dividend payout ratio is presently 84.03%.

In other New Residential Investment news, Director David Saltzman purchased 14,174 shares of New Residential Investment stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $16.66 per share, with a total value of $236,138.84. Following the transaction, the director now owns 38,887 shares of the company’s stock, valued at approximately $647,857.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Sloves purchased 1,800 shares of New Residential Investment stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $16.65 per share, with a total value of $29,970.00. Following the completion of the transaction, the director now directly owns 29,481 shares in the company, valued at approximately $490,858.65. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

Large investors have recently bought and sold shares of the company. Cedar Wealth Management LLC boosted its stake in New Residential Investment by 50.0% during the 1st quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 600 shares during the last quarter. Winfield Associates Inc. boosted its position in shares of New Residential Investment by 0.4% during the 1st quarter. Winfield Associates Inc. now owns 157,077 shares of the real estate investment trust’s stock valued at $2,656,000 after acquiring an additional 610 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of New Residential Investment by 2.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,768 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 651 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of New Residential Investment by 8.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,919 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 674 shares during the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of New Residential Investment by 2.5% during the 4th quarter. AE Wealth Management LLC now owns 29,115 shares of the real estate investment trust’s stock valued at $414,000 after acquiring an additional 708 shares during the last quarter. 53.39% of the stock is owned by hedge funds and other 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.

Featured Story: What Are Treasury Bonds?

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

Receive News & Ratings for New Residential Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment and related companies with MarketBeat.com's FREE daily email newsletter.