New Residential Investment Corp (NYSE:NRZ) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $17.92 target price on the real estate investment trust’s stock. Vetr‘s price target points to a potential upside of 9.33% from the company’s current price.

A number of other analysts have also weighed in on NRZ. Zacks Investment Research lowered New Residential Investment Corp from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Compass Point raised New Residential Investment Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 31st. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of New Residential Investment Corp in a research note on Monday, February 6th. Finally, FBR & Co increased their price objective on New Residential Investment Corp from $16.75 to $17.50 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.71.

Analyst Recommendations for New Residential Investment Corp (NYSE:NRZ)

Shares of New Residential Investment Corp (NYSE:NRZ) traded down 7.66% during midday trading on Thursday, hitting $16.39. 29,695,255 shares of the stock traded hands. The stock has a market capitalization of $5.04 billion, a P/E ratio of 7.74 and a beta of 0.96. New Residential Investment Corp has a 52 week low of $11.87 and a 52 week high of $17.86. The firm has a 50-day moving average price of $17.00 and a 200-day moving average price of $15.72.

New Residential Investment Corp (NYSE:NRZ) last released its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The firm earned $231.81 million during the quarter, compared to analyst estimates of $158.30 million. New Residential Investment Corp had a return on equity of 15.13% and a net margin of 38.93%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts predict that New Residential Investment Corp will post $2.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, March 27th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $1.92 annualized dividend and a yield of 11.71%. This is a positive change from New Residential Investment Corp’s previous quarterly dividend of $0.46. New Residential Investment Corp’s dividend payout ratio (DPR) is currently 112.20%.

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In other news, CEO Michael Nierenberg acquired 18,600 shares of the stock in a transaction on Friday, February 3rd. The stock was acquired at an average price of $15.00 per share, with a total value of $279,000.00. Following the completion of the transaction, the chief executive officer now owns 935,352 shares of the company’s stock, valued at approximately $14,030,280. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NRZ. Cypress Capital Management LLC WY purchased a new position in shares of New Residential Investment Corp during the first quarter valued at approximately $582,000. Nisa Investment Advisors LLC increased its position in shares of New Residential Investment Corp by 43.9% in the first quarter. Nisa Investment Advisors LLC now owns 69,790 shares of the real estate investment trust’s stock valued at $1,185,000 after buying an additional 21,290 shares during the last quarter. Orinda Asset Management LLC increased its position in shares of New Residential Investment Corp by 358.3% in the first quarter. Orinda Asset Management LLC now owns 275,000 shares of the real estate investment trust’s stock valued at $4,670,000 after buying an additional 215,000 shares during the last quarter. Telemus Capital LLC increased its position in shares of New Residential Investment Corp by 11.6% in the first quarter. Telemus Capital LLC now owns 262,745 shares of the real estate investment trust’s stock valued at $4,461,000 after buying an additional 27,390 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new position in shares of New Residential Investment Corp during the first quarter valued at $3,755,000. 46.29% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:NRZ

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

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