New Residential Investment Corp (NYSE:NRZ) has been assigned an average recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.25.

NRZ has been the topic of several research reports. B. Riley reissued a “buy” rating on shares of New Residential Investment in a research report on Wednesday, November 1st. FBR & Co reissued a “buy” rating and issued a $19.25 price objective on shares of New Residential Investment in a research report on Monday, October 30th. Vetr raised New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price objective on the stock in a research report on Thursday, October 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of New Residential Investment in a research report on Sunday, August 27th. Finally, ValuEngine lowered New Residential Investment from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. TCI Wealth Advisors Inc. increased its position in shares of New Residential Investment by 203.0% during the third quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 4,060 shares during the last quarter. Ffcm LLC increased its position in shares of New Residential Investment by 673.4% during the third quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 6,074 shares during the last quarter. IFP Advisors Inc increased its position in shares of New Residential Investment by 9.6% during the second quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 629 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of New Residential Investment by 8.4% during the second quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 593 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of New Residential Investment during the second quarter worth about $150,000. 48.61% of the stock is currently owned by institutional investors and hedge funds.

New Residential Investment (NRZ) opened at $18.11 on Friday. New Residential Investment has a 52-week low of $15.03 and a 52-week high of $18.18. The company has a market capitalization of $5,538.65, a PE ratio of 6.37, a price-to-earnings-growth ratio of 6.74 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. The company had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s revenue was up 72.1% compared to the same quarter last year. analysts anticipate that New Residential Investment will post 2.68 EPS for the current fiscal year.

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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.

Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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