New Residential Investment Corp. (NYSE:NRZ) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 4,905,257 shares, a drop of 34.6% from the August 15th total of 7,502,256 shares. Based on an average daily volume of 2,370,652 shares, the short-interest ratio is currently 2.1 days. Approximately 2.0% of the shares of the stock are sold short.

A number of hedge funds and other institutional investors have recently modified their holdings of NRZ. Exane Derivatives purchased a new position in shares of New Residential Investment Corp. during the first quarter valued at $105,000. PNC Financial Services Group Inc. increased its position in shares of New Residential Investment Corp. by 58.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,737 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 3,954 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of New Residential Investment Corp. by 19.8% in the second quarter. Public Employees Retirement System of Ohio now owns 10,857 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 1,798 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of New Residential Investment Corp. during the second quarter valued at $152,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of New Residential Investment Corp. during the second quarter valued at $158,000. 53.36% of the stock is owned by institutional investors.

New Residential Investment Corp. (NYSE:NRZ) opened at 14.45 on Friday. New Residential Investment Corp. has a one year low of $9.07 and a one year high of $14.89. The stock has a market cap of $3.33 billion, a P/E ratio of 9.88 and a beta of 0.93. The company’s 50-day moving average price is $14.27 and its 200-day moving average price is $13.12.

New Residential Investment Corp. (NYSE:NRZ) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the 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. New Residential Investment Corp. had a net margin of 38.31% and a return on equity of 15.25%. New Residential Investment Corp.’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Analysts forecast that New Residential Investment Corp. will post $1.72 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. Barclays PLC raised their price target 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. Piper Jaffray Cos. restated an “overweight” rating and set a $16.00 price target on shares of New Residential Investment Corp. in a research report on Friday, September 9th. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Credit Suisse Group AG set a $17.00 price objective on New Residential Investment Corp. and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, Vetr upgraded 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 report on Monday, June 13th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.36.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company is focused on investing in, and managing, investments related to residential real estate. The Company conducts its business through the segments, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate.

5 Day Chart for NYSE:NRZ

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