New Residential Investment Corp. (NYSE:NRZ) shares shot up 2.7% during trading on Tuesday . The stock traded as high as $14.70 and last traded at $14.61, with a volume of 2,033,409 shares traded. The stock had previously closed at $14.23.

Several research firms have recently commented on NRZ. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays PLC lifted their target price on New Residential Investment Corp. from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday. TheStreet upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Vetr upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating and set a $15.40 target price for the company in a report on Monday, June 13th. Finally, Credit Suisse Group AG set a $17.00 target price on New Residential Investment Corp. and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.36.

The stock has a 50 day moving average price of $13.50 and a 200 day moving average price of $12.39. The firm has a market capitalization of $3.26 billion and a P/E ratio of 9.6718.

New Residential Investment Corp. (NYSE:NRZ) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business earned $137.43 million during the quarter, compared to analyst estimates of $161 million. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. On average, analysts predict that New Residential Investment Corp. will post $1.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, July 7th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 12.71%.

Several hedge funds have recently added to or reduced their stakes in NRZ. New York State Common Retirement Fund increased its stake in New Residential Investment Corp. by 7.2% in the fourth quarter. New York State Common Retirement Fund now owns 221,200 shares of the real estate investment trust’s stock worth $2,690,000 after buying an additional 14,900 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in New Residential Investment Corp. by 12.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 137,000 shares of the real estate investment trust’s stock worth $1,666,000 after buying an additional 15,000 shares during the last quarter. Advisors Asset Management Inc. increased its stake in New Residential Investment Corp. by 366.0% in the fourth quarter. Advisors Asset Management Inc. now owns 347,333 shares of the real estate investment trust’s stock worth $4,224,000 after buying an additional 272,802 shares during the last quarter. Wells Fargo & Company MN increased its stake in New Residential Investment Corp. by 10.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,584,839 shares of the real estate investment trust’s stock worth $43,592,000 after buying an additional 343,051 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in New Residential Investment Corp. by 92.5% in the fourth quarter. Bank of Montreal Can now owns 1,251,000 shares of the real estate investment trust’s stock worth $15,212,000 after buying an additional 601,000 shares during the last quarter.

New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets, residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs), Servicer Advances, Real Estate Securities, Real Estate Loans, Consumer Loans and Corporate.

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