New Residential Investment Corp. (NYSE:NRZ) shares gapped down before the market opened on Monday . The stock had previously closed at $16.68, but opened at $16.73. New Residential Investment Corp. shares last traded at $16.94, with a volume of 1,936,253 shares.

NRZ has been the subject of a number of research reports. Vetr cut New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 price objective for the company. in a research note on Wednesday, August 2nd. ValuEngine raised New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 target price on shares of New Residential Investment Corp. in a research report on Thursday, August 3rd. BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Wedbush cut New Residential Investment Corp. from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $17.00 to $16.50 in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.97.

The company has a market capitalization of $5.21 billion, a PE ratio of 6.01 and a beta of 1.03. The company has a 50 day moving average price of $16.61 and a 200 day moving average price of $16.49.

New Residential Investment Corp. (NYSE:NRZ) last announced its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.48. The firm had revenue of $356.80 million for the quarter, compared to analysts’ expectations of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities research analysts predict that New Residential Investment Corp. will post $2.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Monday, October 2nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 11.81%. New Residential Investment Corp.’s payout ratio is 72.20%.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in New Residential Investment Corp. by 39,965.7% in the first quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock worth $451,177,000 after purchasing an additional 26,504,822 shares during the period. Vanguard Group Inc. increased its stake in shares of New Residential Investment Corp. by 28.9% during the first quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after purchasing an additional 5,571,198 shares in the last quarter. State Street Corp increased its stake in shares of New Residential Investment Corp. by 25.3% during the first quarter. State Street Corp now owns 5,913,353 shares of the real estate investment trust’s stock valued at $100,410,000 after purchasing an additional 1,192,731 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of New Residential Investment Corp. by 9.3% during the first quarter. Bank of America Corp DE now owns 5,291,446 shares of the real estate investment trust’s stock valued at $89,849,000 after purchasing an additional 451,323 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of New Residential Investment Corp. during the first quarter valued at approximately $59,515,000. 48.12% of the stock is currently owned by institutional investors and hedge funds.

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New Residential Investment Corp. 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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