New Residential Investment Corp (NRZ) Expected to Earn FY2017 Earnings of $2.73 Per Share
New Residential Investment Corp (NYSE:NRZ) – Equities researchers at B. Riley decreased their FY2017 EPS estimates for New Residential Investment in a report released on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings of $2.73 per share for the year, down from their prior estimate of $2.74. B. Riley currently has a “Buy” rating and a $19.25 target price on the stock. B. Riley also issued estimates for New Residential Investment’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.53 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.15 EPS.
NRZ has been the topic of a number of other research reports. Zacks Investment Research cut shares of New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. FBR & Co reaffirmed a “buy” rating and set a $17.50 price objective on shares of New Residential Investment in a research note on Monday, October 9th. ValuEngine lowered New Residential Investment from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th. Vetr upgraded New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 target price on the stock in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.00 target price on shares of New Residential Investment in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.09.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $331.38 million for the quarter, compared to analysts’ expectations 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 revenue was up 72.1% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.27%. New Residential Investment’s dividend payout ratio (DPR) is 64.72%.
Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in New Residential Investment by 211.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after purchasing an additional 1,457,525 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new position in New Residential Investment in the 3rd quarter valued at $20,913,000. Samlyn Capital LLC purchased a new position in New Residential Investment in the 2nd quarter valued at $12,201,000. Assetmark Inc. lifted its holdings in New Residential Investment by 11,974.7% in the 3rd quarter. Assetmark Inc. now owns 693,815 shares of the real estate investment trust’s stock valued at $11,608,000 after purchasing an additional 688,069 shares in the last quarter. Finally, Chicago Equity Partners LLC lifted its holdings in New Residential Investment by 166.6% in the 3rd quarter. Chicago Equity Partners LLC now owns 1,053,610 shares of the real estate investment trust’s stock valued at $17,627,000 after purchasing an additional 658,360 shares in the last quarter. Hedge funds and other institutional investors own 48.49% of the company’s stock.
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New Residential Investment 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.
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