Brokers expect New Residential Investment Corp. (NYSE:NRZ) will report earnings of $0.40 per share for the current fiscal quarter, Zacks reports. Two analysts released earnings estimates for New Residential Investment, with the lowest EPS estimate of $0.34 and the highest estimate of $0.50. New Residential Investments reported earnings per share of $0.34 in the same quarter last year, suggesting a positive year-over-year growth rate of 17.6%. The company is expected to announce its next quarterly results on Wednesday, May 4.
According to Zacks, analysts expect New Residential Investment to report annual earnings of $1.69 per share for the current fiscal year, with EPS estimates ranging from $1.41 to $2.00. For next year, analysts expect the company to post earnings of $2.01 per share, with EPS estimates ranging from $1.77 to $2.25. Zacks EPS averages are an average based on a survey of research analysts who cover new residential investments.
New Residential Investment (NYSE:NRZ) last reported results on Tuesday, February 8. The real estate investment trust reported EPS of $0.40 for the quarter, meeting Thomson Reuters consensus estimate of $0.40. New Residential Investments generated a net margin of 39.50% and a return on equity of 13.53%. The company posted revenue of $1.10 billion in the quarter, compared to $984.90 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.32. The company’s revenue increased 15.2% year over year.
A number of brokerages have commented on NRZ. Zacks Investment Research moved shares of New Residential Investment from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 research note. JMP Securities raised its price target on New Residential Investment shares from $11.00 to $11.50 and gave the company a “market outperforming” rating in a Monday, Oct. 18 research note. StockNews.com cut shares of New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada raised its price target on New Residential Investment shares from $12.00 to $13.00 and gave the company an “outperform” rating in a Friday, Nov. 19 research note. Finally, Piper Sandler cut her price target on New Residential Investment shares from $12.50 to $12.00 and set an “overweight” rating for the company in a Wednesday, Jan. 5 research note. They noted that the move was a review call. One research analyst gave the stock a sell rating, two gave the company a hold rating and eight gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.50.
Separately, director Robert Mcginnis acquired 4,000 shares of the company in a transaction dated Tuesday, November 23. The shares were purchased at an average cost of $25.18 per share, with a total value of $100,720.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.57% of the shares are held by insiders.
Large investors have recently increased or reduced their stakes in the stock. Selective Wealth Management Inc. increased its holdings in New Residential Investments by 368.5% in Q3. Selective Wealth Management Inc. now owns 2,600 shares of the real estate investment trust worth $29,000 after purchasing an additional 2,045 shares during the period. National Bank Huntington bought a new position in New Residential Investment in Q4, valued at around $32,000. UMB Bank NA MO bought a new position in New Residential Investment in Q4, valued at around $32,000. First Horizon Advisors Inc. increased its holdings in new residential investments by 207.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust worth $36,000 after purchasing an additional 2,245 shares during the period. Finally, Lindbrook Capital LLC increased its stake in New Residential Investment by 121.0% in the third quarter. Lindbrook Capital LLC now owns 3,695 shares of the real estate investment trust valued at $41,000 after purchasing an additional 2,023 shares during the period. 46.11% of the shares are currently held by institutional investors and hedge funds.
NRZ was down $0.15 during Friday trading hours, hitting $10.58. 5,326,797 shares of the company were traded, with an average volume of 5,905,155. The new residential investment has a 1-year low of $8.98 and a 1-year high of $11.81. The stock’s 50-day moving average is $10.82 and its two-hundred-day moving average is $10.82. The stock has a market capitalization of $4.94 billion, a price-earnings ratio of 7.72 and a beta of 1.85. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt ratio of 0.10.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 28. Shareholders of record on Friday, December 31 received a dividend of $0.25. This represents an annualized dividend of $1.00 and a dividend yield of 9.45%. The ex-dividend date was Thursday, December 30. The New Residential Investment payout rate is currently 72.99%.
New Home Investment Business Profile
New Residential Investment Corp. is a real estate investment trust that focuses on the investment and active management of investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities & Lending, Consumer Lending and Corporate.
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