B. Riley Reiterates “Buy” Rating for New Residential Investment (NYSE:NRZ)

New Residential Investment (NYSE:NRZ)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a note issued to investors on Monday, Zacks.com reports. B. Riley also issued estimates for New Residential Investment’s Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.07 EPS, Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $2.10 EPS, Q1 2021 earnings at $0.53 EPS, Q2 2021 earnings at $0.54 EPS, Q3 2021 earnings at $0.54 EPS, Q4 2021 earnings at $0.52 EPS and FY2021 earnings at $2.14 EPS.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised New Residential Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Compass Point initiated coverage on New Residential Investment in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. Piper Jaffray Companies cut New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Thursday, November 14th. Zacks Investment Research raised New Residential Investment from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, Argus began coverage on New Residential Investment in a research note on Tuesday, December 31st. They set a “buy” rating and a $18.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.14.

Shares of NYSE NRZ opened at $16.48 on Monday. The business’s 50 day moving average is $16.07 and its two-hundred day moving average is $15.40. New Residential Investment has a 1-year low of $13.63 and a 1-year high of $17.34. The stock has a market capitalization of $6.87 billion, a P/E ratio of 6.92 and a beta of 1.08.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). New Residential Investment had a return on equity of 12.69% and a net margin of 19.60%. The company had revenue of $202.23 million for the quarter, compared to the consensus estimate of $227.21 million. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts predict that New Residential Investment will post 2.09 EPS for the current year.

In other New Residential Investment news, Director Robert Mcginnis bought 4,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $15.73 per share, with a total value of $70,785.00. Following the completion of the purchase, the director now owns 61,243 shares in the company, valued at approximately $963,352.39. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Garnet Equity Capital Holdings Inc. grew its stake in shares of New Residential Investment by 115.0% during the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 215,000 shares of the real estate investment trust’s stock valued at $3,464,000 after buying an additional 115,000 shares during the last quarter. Winfield Associates Inc. grew its stake in shares of New Residential Investment by 3.6% during the fourth quarter. Winfield Associates Inc. now owns 92,300 shares of the real estate investment trust’s stock valued at $1,487,000 after buying an additional 3,200 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of New Residential Investment during the fourth quarter valued at approximately $248,000. Advisors Capital Management LLC grew its stake in shares of New Residential Investment by 4.7% during the fourth quarter. Advisors Capital Management LLC now owns 999,487 shares of the real estate investment trust’s stock valued at $16,102,000 after buying an additional 44,460 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC grew its stake in shares of New Residential Investment by 2.4% during the fourth quarter. Wiley BROS. Aintree Capital LLC now owns 37,063 shares of the real estate investment trust’s stock valued at $597,000 after buying an additional 867 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Company Profile

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.

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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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