New Residential Investment Corp. (NYSE:NRZ – Get Rating) – Wedbush investment analysts cut their second-quarter 2022 EPS estimates for New Residential Investment stock in a note to investors on Wednesday, June 22. Wedbush analyst H. Coffey now expects the real estate investment trust to earn $0.28 per share for the quarter, down from its previous estimate of $0.34. New Residential Investment’s current annual earnings consensus estimate is $1.16 per share.
A number of other brokerages also commented on NRZ. Piper Sandler downgraded shares of New Residential Investment from a “neutral” rating to an “underweight” rating and lowered its price target for the company from $12.00 to $10.00 in a research note Monday, June 13. Raymond James raised his price target on New Residential Investment shares from $13.00 to $13.50 and gave the stock an “outperform” rating in a Tuesday, March 29 research report. Finally, StockNews.com upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating in a Monday, May 9 research report. One analyst rated the stock with a sell rating and seven gave the stock a buy rating. Based on data from MarketBeat, New Residential Investment has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.
NRZ shares opened at $9.29 on Thursday. The new residential investment has a 52 week low of $8.18 and a 52 week high of $11.81. The company has a market capitalization of $4.34 billion, a P/E ratio of 4.11 and a beta of 1.66. The company’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $10.64. The company has a debt ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44. New Residential Investment (NYSE:NRZ – Get Rating) last reported quarterly results on Tuesday, May 3. The real estate investment trust reported EPS of $0.37 for the quarter, beating consensus analyst estimates of $0.35 by $0.02. New Residential Investments generated a net margin of 28.82% and a return on equity of 13.84%. During the same period last year, the company posted EPS of $0.34.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Friday, July 1 will receive a dividend of $0.25 per share. The ex-dividend date is Thursday, June 30. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 10.76%. The New Residential Investment payout rate is currently 44.25%.
Several hedge funds and other institutional investors have recently bought and sold shares of NRZ. Morgan Stanley increased its position in New Residential Investment shares by 11.5% in the third quarter. Morgan Stanley now owns 3,089,373 shares of the real estate investment trust worth $33,983,000 after acquiring 319,276 additional shares in the last quarter. Royal Bank of Canada increased its position in new residential investment stocks by 14.0% during the third quarter. Royal Bank of Canada now owns 1,851,644 shares of the real estate investment trust worth $20,368,000 after acquiring an additional 227,539 shares last quarter. Guggenheim Capital LLC increased its position in New Residential Investment shares by 61.1% during the third quarter. Guggenheim Capital LLC now owns 78,592 shares of the real estate investment trust worth $864,000 after acquiring 29,818 additional shares in the last quarter. Cubist Systematic Strategies LLC increased its position in New Residential Investment stocks by 99.9% during the third quarter. Cubist Systematic Strategies LLC now owns 62,297 shares of the real estate investment trust worth $685,000 after acquiring 31,131 additional shares in the last quarter. Finally, Wellington Management Group LLP increased its position in New Residential Investment shares by 28.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,378,975 shares of the real estate investment trust worth $26,169,000 after acquiring an additional 533,597 shares in the last quarter. Institutional investors and hedge funds hold 46.48% of the company’s shares.
About new residential investment (Get a rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.
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