Zacks Investment Research downgraded shares of New Residential Investment (NYSE:NRZ) from a buy rating to a hold rating in a report issued on Saturday morning.

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. “

Several other research analysts also recently weighed in on the stock. Barclays boosted their target price on shares of New Residential Investment from $19.00 to $21.00 and gave the company an overweight rating in a research note on Wednesday, July 25th. ValuEngine downgraded shares of New Residential Investment from a buy rating to a hold rating in a research note on Saturday, June 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $19.39.

Shares of New Residential Investment traded down $0.02, hitting $18.06, during midday trading on Friday, Marketbeat.com reports. 1,876,528 shares of the stock were exchanged, compared to its average volume of 2,950,226. The company has a market capitalization of $6.14 billion, a PE ratio of 7.50 and a beta of 0.95. New Residential Investment has a twelve month low of $15.24 and a twelve month high of $18.74.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. New Residential Investment had a return on equity of 14.85% and a net margin of 83.31%. The business had revenue of $269.89 million during the quarter, compared to the consensus estimate of $130.70 million. During the same quarter in the previous year, the company posted $1.03 EPS. equities analysts forecast that New Residential Investment will post 2.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Stockholders of record on Monday, July 2nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.07%. The ex-dividend date was Friday, June 29th. New Residential Investment’s dividend payout ratio is currently 70.67%.

In other news, CEO Michael Nierenberg sold 339,177 shares of the company’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $18.30, for a total transaction of $6,206,939.10. Following the completion of the transaction, the chief executive officer now owns 2,085,352 shares of the company’s stock, valued at approximately $38,161,941.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. United Services Automobile Association grew its holdings in shares of New Residential Investment by 10.2% during the 2nd quarter. United Services Automobile Association now owns 252,906 shares of the real estate investment trust’s stock worth $4,423,000 after purchasing an additional 23,323 shares during the period. Aviance Capital Management LLC grew its holdings in shares of New Residential Investment by 72.2% during the 2nd quarter. Aviance Capital Management LLC now owns 568,732 shares of the real estate investment trust’s stock worth $9,947,000 after purchasing an additional 238,517 shares during the period. NumerixS Investment Technologies Inc grew its holdings in shares of New Residential Investment by 22.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 59,850 shares of the real estate investment trust’s stock worth $1,078,000 after purchasing an additional 11,150 shares during the period. Investec Asset Management North America Inc. grew its holdings in shares of New Residential Investment by 22.9% during the 2nd quarter. Investec Asset Management North America Inc. now owns 74,548 shares of the real estate investment trust’s stock worth $1,304,000 after purchasing an additional 13,894 shares during the period. Finally, Investec Asset Management LTD grew its holdings in shares of New Residential Investment by 13.5% during the 2nd quarter. Investec Asset Management LTD now owns 1,629,562 shares of the real estate investment trust’s stock worth $28,501,000 after purchasing an additional 193,928 shares during the period. 52.83% of the stock is owned by institutional investors.

About New Residential Investment

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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