Wedbush reaffirmed their outperform rating on shares of New Residential Investment (NYSE:NRZ) in a research note published on Monday morning, reports. Wedbush also issued estimates for New Residential Investment’s Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.55 EPS, FY2019 earnings at $2.10 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.58 EPS, FY2020 earnings at $2.20 EPS and FY2021 earnings at $2.35 EPS.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of New Residential Investment from a sell rating to a hold rating in a report on Thursday, July 18th. ValuEngine downgraded shares of New Residential Investment from a hold rating to a sell rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $18.90.

NYSE:NRZ opened at $14.48 on Monday. The firm’s 50-day moving average is $15.09 and its 200-day moving average is $16.10. New Residential Investment has a 52-week low of $13.86 and a 52-week high of $18.75. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 6.08 and a beta of 1.07.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. The company had revenue of $188.04 million for the quarter, compared to the consensus estimate of $240.28 million. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, research analysts forecast that New Residential Investment will post 2.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 13.81%. New Residential Investment’s dividend payout ratio (DPR) is currently 84.03%.

Several institutional investors have recently modified their holdings of NRZ. Phocas Financial Corp. acquired a new position in New Residential Investment in the second quarter valued at about $2,084,000. Penserra Capital Management LLC acquired a new position in New Residential Investment in the first quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in New Residential Investment in the first quarter valued at about $27,000. Private Capital Group LLC acquired a new position in New Residential Investment in the first quarter valued at about $28,000. Finally, Cedar Wealth Management LLC boosted its position in New Residential Investment by 50.0% in the first quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

New Residential Investment Company Profile

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 and Originations, Residential Securities and Loans, and Consumer Loans 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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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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