Piper Jaffray Companies reaffirmed their buy rating on shares of New Residential Investment Corp. (NYSE:NRZ) in a report issued on Sunday. The brokerage currently has a $18.00 price target on the real estate investment trust’s stock.

NRZ has been the subject of a number of other reports. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $18.00 price objective on shares of New Residential Investment Corp. in a report on Thursday, August 3rd. Vetr lowered shares of New Residential Investment Corp. from a hold rating to a sell rating and set a $16.55 price objective for the company. in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of New Residential Investment Corp. from a sell rating to a hold rating in a report on Saturday, August 12th. ValuEngine lowered shares of New Residential Investment Corp. from a strong-buy rating to a buy rating in a report on Friday, June 30th. Finally, FBR & Co reaffirmed an outperform rating and set a $17.50 price objective on shares of New Residential Investment Corp. in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $16.84.

Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 16.37 on Friday. New Residential Investment Corp. has a one year low of $13.30 and a one year high of $17.86. The stock’s 50 day moving average is $16.27 and its 200-day moving average is $16.48. The company has a market cap of $5.03 billion, a P/E ratio of 5.81 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last released its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.48. The company had revenue of $356.80 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.52 EPS. Equities research analysts forecast that New Residential Investment Corp. will post $2.58 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of NRZ. Navellier & Associates Inc increased its position in New Residential Investment Corp. by 2.8% in the second quarter. Navellier & Associates Inc now owns 44,910 shares of the real estate investment trust’s stock worth $699,000 after buying an additional 1,220 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in New Residential Investment Corp. by 1,152.9% in the second quarter. Public Employees Retirement System of Ohio now owns 149,734 shares of the real estate investment trust’s stock worth $2,330,000 after buying an additional 137,783 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in New Residential Investment Corp. during the second quarter worth approximately $268,000. Arrowstreet Capital Limited Partnership purchased a new position in New Residential Investment Corp. during the second quarter worth approximately $1,968,000. Finally, Caxton Associates LP increased its position in New Residential Investment Corp. by 13.7% in the second quarter. Caxton Associates LP now owns 36,100 shares of the real estate investment trust’s stock worth $562,000 after buying an additional 4,356 shares in the last quarter. Hedge funds and other institutional investors own 47.81% of the company’s stock.

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.

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

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