New Residential Investment Corp. (NRZ) Stock Rating Lowered by Vetr Inc.

New Residential Investment Corp. (NYSE:NRZ) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Thursday. They presently have a $16.55 target price on the real estate investment trust’s stock. Vetr‘s price objective indicates a potential upside of 3.70% from the stock’s previous close.

NRZ has been the topic of a number of other research reports. FBR & Co reissued an “outperform” rating and issued a $17.50 target price on shares of New Residential Investment Corp. in a research report on Tuesday, March 28th. ValuEngine lowered New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research lowered New Residential Investment Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub lowered New Residential Investment Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods set a $17.00 target price on New Residential Investment Corp. and gave the company a “buy” rating in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $16.51.

New Residential Investment Corp. (NRZ) opened at 15.96 on Thursday. The firm has a market cap of $4.91 billion, a P/E ratio of 7.83 and a beta of 1.00. The stock has a 50 day moving average price of $16.05 and a 200-day moving average price of $16.37. New Residential Investment Corp. has a one year low of $13.30 and a one year high of $17.86.

New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. New Residential Investment Corp. had a return on equity of 15.48% and a net margin of 43.60%. The business had revenue of $170.60 million for the quarter, compared to analysts’ expectations of $239.83 million. During the same quarter in the previous year, the business posted $0.49 EPS. New Residential Investment Corp.’s revenue for the quarter was down 21.4% on a year-over-year basis. Analysts predict that New Residential Investment Corp. will post $2.12 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in New Residential Investment Corp. by 39,965.7% in the first quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock worth $451,177,000 after buying an additional 26,504,822 shares during the last quarter. Vanguard Group Inc. raised its position in New Residential Investment Corp. by 28.9% in the first quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock worth $421,421,000 after buying an additional 5,571,198 shares during the last quarter. Wellington Management Group LLP acquired a new position in New Residential Investment Corp. during the first quarter worth $59,515,000. Renaissance Technologies LLC acquired a new position in New Residential Investment Corp. during the first quarter worth $49,637,000. Finally, Whitebox Advisors LLC acquired a new position in New Residential Investment Corp. during the first quarter worth $41,328,000. 54.82% of the stock is currently owned by hedge funds and other institutional investors.

About New Residential Investment Corp.

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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