Investors Sell Shares of New Residential Investment Corp. (NRZ) on Strength (NRZ)
Traders sold shares of New Residential Investment Corp. (NYSE:NRZ) on strength during trading hours on Thursday. $4.95 million flowed into the stock on the tick-up and $23.78 million flowed out of the stock on the tick-down, for a money net flow of $18.83 million out of the stock. Of all companies tracked, New Residential Investment Corp. had the 0th highest net out-flow for the day. New Residential Investment Corp. traded up $0.10 for the day and closed at $14.35
Several equities research analysts recently commented on the company. Zacks Investment Research raised New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC increased their price objective on New Residential Investment Corp. from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 10th. Credit Suisse Group AG set a $17.00 price objective on New Residential Investment Corp. and gave the company a “buy” rating in a research report on Monday, August 8th. Vetr raised New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating and set a $15.40 price objective on the stock in a research report on Monday, June 13th. Finally, Sterne Agee CRT reaffirmed a “buy” rating on shares of New Residential Investment Corp. in a research report on Monday, May 16th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. New Residential Investment Corp. presently has a consensus rating of “Buy” and an average target price of $15.36.
The company has a 50-day moving average of $13.89 and a 200-day moving average of $12.79. The company has a market cap of $3.29 billion and a PE ratio of 9.76.
New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company earned $137.43 million during the quarter, compared to the consensus estimate of $161 million. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, analysts expect that New Residential Investment Corp. will post $1.72 EPS for the current fiscal year.
A hedge fund recently raised its stake in New Residential Investment Corp. stock. State of New Jersey Common Pension Fund D increased its stake in New Residential Investment Corp. (NYSE:NRZ) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,000 shares of the real estate investment trust’s stock after buying an additional 15,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of New Residential Investment Corp. worth $1,666,000 at the end of the most recent 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.