Zacks Investment Research cut shares of New Residential Investment (NYSE:NRZ) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “

A number of other research analysts have also weighed in on the stock. B. Riley reaffirmed a buy rating and issued a $19.25 price target on shares of New Residential Investment in a research note on Wednesday, November 29th. FBR & Co reaffirmed a buy rating and issued a $19.25 price target on shares of New Residential Investment in a research note on Monday, October 30th. Vetr raised shares of New Residential Investment from a hold rating to a buy rating and set a $17.75 price target on the stock in a research note on Thursday, October 26th. Barclays raised their price target on shares of New Residential Investment from $16.00 to $19.00 and gave the company an overweight rating in a research note on Tuesday, October 24th. Finally, ValuEngine raised shares of New Residential Investment from a buy rating to a strong-buy rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. New Residential Investment has an average rating of Buy and a consensus target price of $18.09.

New Residential Investment (NYSE:NRZ) opened at $17.71 on Wednesday. The firm has a market cap of $5,440.00, a PE ratio of 5.73, a P/E/G ratio of 7.97 and a beta of 1.02. New Residential Investment has a 12 month low of $15.03 and a 12 month high of $18.43.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.29%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is 64.72%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRZ. Goldman Sachs Group Inc. lifted its stake 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 worth $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 worth approximately $20,913,000. Samlyn Capital LLC purchased a new position in New Residential Investment in the 2nd quarter worth approximately $12,201,000. Assetmark Inc. lifted its stake 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 worth $11,608,000 after purchasing an additional 688,069 shares in the last quarter. Finally, Chicago Equity Partners LLC lifted its stake 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 worth $17,627,000 after purchasing an additional 658,360 shares in the last quarter. 48.49% of the stock is currently owned by institutional investors and hedge funds.

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About New Residential Investment

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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